Open AccessGAME EQUILIBRIUM BASED CONTROL ANALYSIS ON THE SUSTAINABLE MARKET STRUCTURE OF RARE METAL MINERAL RESOURCES – EVIDENCE FROM CHINA
Author(s) -
Shijie Ding,
Jianbai Huang,
Xiaodan Zhang,
Meirui Zhong
Publication year - 2021
Publication title -
journal of environmental engineering and landscape management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.514
H-Index - 28
eISSN - 1822-4199
pISSN - 1648-6897
DOI - 10.3846/jeelm.2021.14186
Subject(s) - cournot competition , bottleneck , game theory , economics , nash equilibrium , equilibrium point , resource (disambiguation) , microeconomics , computer science , environmental economics , nonlinear system , operations management , physics , computer network , quantum mechanics
In rare metal mineral market, as a complex system, multiple decision-making among the stakeholders increases the complexity in its market structure and dynamic process. The unreasonable compensation pricing mechanism for the development of the rare metal mineral resources in China requires to be studied. Drawing on the methods of game theory model and chaos control analysis, this paper builds theoretical model of rare metal mineral market structure, corporating related parameters of rare metal in the game theory model, to conduct the chaotic nature and path analysis, expecting to solve the bottleneck problems that restrict the rare metal pricing and resource security and enhance the waste valorization for the sustainability. Specificly, a Cournot-Nash Equilibrium model is built to analyze the Cournot-equilibrium point, the stability of the Cournot Equilibrium point, the chaotic status, as well as the pattern to chaos of the game system in the rare metal mineral resource market, numerical simulation is used to verify the model. The conclusions facilitate the formulation of industrial economic policies and further improvement of managerial strategies to solve market problems.