Complex Dynamics in Nonlinear Triopoly Market with Different Expectations | Zendy

Junhai Ma | Zendy; Xiaosong Pu | Zendy

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Complex Dynamics in Nonlinear Triopoly Market with Different Expectations

Author(s) -

Junhai Ma,

Xiaosong Pu

Publication year - 2011

Publication title -

discrete dynamics in nature and society

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.264

H-Index - 39

eISSN - 1607-887X

pISSN - 1026-0226

DOI - 10.1155/2011/902014

Subject(s) - attractor , nonlinear system , lyapunov exponent , mathematics , quadratic equation , fractal dimension , dimension (graph theory) , bifurcation , stability (learning theory) , hopf bifurcation , lyapunov function , nash equilibrium , bifurcation diagram , function (biology) , inverse demand function , fractal , mathematical analysis , mathematical economics , computer science , physics , pure mathematics , economics , demand curve , geometry , quantum mechanics , machine learning , evolutionary biology , biology , microeconomics

A dynamic triopoly game characterized by firms with different expectations is modeled by three-dimensional nonlinear difference equations, where the market has quadratic inverse demand function and the firm possesses cubic total cost function. The local stability of Nash equilibrium is studied. Numerical simulations are presented to show that the triopoly game model behaves chaotically with the variation of the parameters. We obtain the fractal dimension of the strange attractor, bifurcation diagrams, and Lyapunov exponents of the system

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