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Analysis of the dynamics of multi-team Bertrand game with heterogeneous players

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  • Zhanwen Ding
  • Qinglan Hang
  • Honglin Yang

Abstract

In this article, we study the dynamics of a two-team Bertrand game with players having heterogeneous expectations. We study the equilibrium solutions and the conditions of their locally asymptotic stability. Numerical simulations are used to illustrate the complex behaviours of the proposed model of the Bertrand game. We demonstrate that some parameters of the model have great influence on the stability of Nash equilibrium and on the speed of convergence to Nash equilibrium. The chaotic behaviour of the model has been controlled by using feedback control method.

Suggested Citation

  • Zhanwen Ding & Qinglan Hang & Honglin Yang, 2011. "Analysis of the dynamics of multi-team Bertrand game with heterogeneous players," International Journal of Systems Science, Taylor & Francis Journals, vol. 42(6), pages 1047-1056.
    • Handle: RePEc:taf:tsysxx:v:42:y:2011:i:6:p:1047-1056
    DOI: 10.1080/00207720903296022
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    Cited by:

    1. Ding, Zhanwen & Wang, Qiao & Jiang, Shumin, 2014. "Analysis on the dynamics of a Cournot investment game with bounded rationality," Economic Modelling, Elsevier, vol. 39(C), pages 204-212.
    2. Peng, Yu & Lu, Qian & Xiao, Yue & Wu, Xue, 2019. "Complex dynamics analysis for a remanufacturing duopoly model with nonlinear cost," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 514(C), pages 658-670.

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