Chaotic dynamics in differentiated Bertrand model with heterogeneous players

摘要：

A nonlinear differentiated Bertrand duopoly game is investigated comprehensively, where players have heterogeneous expectations and nonlinear cost function.Two types of players are considered including both bounded rational and naive expectation types.The equilibrium point and local stability of the duopoly game are studied in details.It is demonstrated that as some parameters of the game are varied, the stability of Nash equilibrium is broken during the period of doubling bifurcation.The chaotic features are justified numerically via computing Lyapunov exponents and sensitive dependence on initial conditions.

关键词： discrete dynamical system differentiated duopoly Bertrand model heterwgeneous expectations

作者: Rong Hu Hong-shan Xia

作者单位: College of Civil Aviation Nanjing University of Aeronautics and Astronautics Nanjing,P R China

会议类型: 国际会议

会议名称: 2011 IEEE International Conference on Grey System and Intelligent Services Joint with the 15th WOSC International Congress on Cybernetics and System(2011 IEEE灰色系统与智能服务国际会议暨系统与控制世界组织第15届年会)

会议地点: 南京

会议语种:英文

页码: 686-689

在线出版日期: 2011-09-15（万方平台首次上网日期，不代表论文的发表时间）