Analysis of Triopoly Game with Isoelastic Demand Function and Heterogeneous Players | Zendy

Hongxing Yao | Zendy; Lian Shi | Zendy; Hao Xi | Zendy

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Analysis of Triopoly Game with Isoelastic Demand Function and Heterogeneous Players

Author(s) -

Hongxing Yao,

Lian Shi,

Hao Xi

Publication year - 2012

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 - 10.1155/2012/280824

Subject(s) - attractor , duopoly , function (biology) , computer science , stability (learning theory) , mathematical economics , bounded function , mathematics , mathematical analysis , cournot competition , evolutionary biology , machine learning , biology

We analyze a triopoly game model with fully heterogeneous players when the demand function is isoelastic. The three players were considered to be bounded rational, adaptive, and naïve. Existing equilibrium points and their locally asymptotic stability conditions are studied. Complexity of the dynamical system is examined by means of numerical simulations, such as period cycles, bifurcation diagrams, strange attractors and sensitive, dependence on initial conditions. This paper extends the result of Tramontana (2010) who considered a heterogeneous duopoly with isoelastic demand function. Comparisons with respect to the heterogeneous triopoly model of Elabbasy et al. (2009) assuming linear demand function are performed

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