Journal
NONLINEAR DYNAMICS
Volume 67, Issue 3, Pages 2001-2008Publisher
SPRINGER
DOI: 10.1007/s11071-011-0124-1
Keywords
Triopoly; Price game; Complex dynamics; Chaos
Categories
Ask authors/readers for more resources
This paper considers a Bertrand model based on nonlinear demand functions which are closer to reality and different from previous studies. We apply the model into Chinese cold rolled steel market and study game process of triopoly. By using the theory of bifurcations of dynamical systems, local stable region of Nash equilibrium point is obtained. Simulations show complex dynamical behaviors of the system. The results illustrate that altering the relevant parameters of system can affect the stability of Nash equilibrium point and cause chaos to occur, and the complex dynamical behaviors will disappear by parameters control method. The results have an important theoretical and practical significance to Chinese cold rolled steel market.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available