IDEAS home Printed from https://ideas.repec.org/h/spr/prbchp/978-3-031-34059-8_13.html
   My bibliography  Save this book chapter

On the Dynamics of a Heterogeneous Duopoly Game in R&D Efforts

In: Global, Regional and Local Perspectives on the Economies of Southeastern Europe

Author

Listed:
  • Georges Sarafopoulos

    (Democritus University of Thrace)

  • Despoina Terzopoulou

    (Democritus University of Thrace)

Abstract

Nowadays, the market competition among the firms has changed. They have to compete not only the price and amount of their products, but also their R&D (Research and Development) part. This paper is based on the work of Zhou et al. (Hindawei, Complexity, Article ID 9634878, 2020). We investigate the dynamics of a duopoly game with heterogeneous players participating in R&D efforts. Existence and stability of equilibria of this system are studied. Numerical simulations are carried out to show the effect of the speed of adjustment of the bounded rational player on the dynamics of the system. We show that the speed of adjustment of the bounded rational player may change the stability of the Nash equilibrium and cause a structure to behave chaotically. For low values of this parameter there is a stable Nash equilibrium. Increasing these values, the equilibrium becomes unstable, through period-doubling bifurcation.

Suggested Citation

  • Georges Sarafopoulos & Despoina Terzopoulou, 2023. "On the Dynamics of a Heterogeneous Duopoly Game in R&D Efforts," Springer Proceedings in Business and Economics, in: Niccolò Persiani & Ilaria Elisa Vannini & Martina Giusti & Anastasios Karasavvoglou & Persefoni Poly (ed.), Global, Regional and Local Perspectives on the Economies of Southeastern Europe, pages 253-263, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-34059-8_13
    DOI: 10.1007/978-3-031-34059-8_13
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:prbchp:978-3-031-34059-8_13. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.