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Cournot Oligopoly And Chaos Theory – Impact For Economic Modelling

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F25840886%3A_____%2F21%3AN0000007" target="_blank" >RIV/25840886:_____/21:N0000007 - isvavai.cz</a>

  • Result on the web

    <a href="https://www.narodacek.cz/wp-content/uploads/2022/01/66665v_Proceedings-of-the-International-Scientific__-Conference_202180-2-338-351.pdf" target="_blank" >https://www.narodacek.cz/wp-content/uploads/2022/01/66665v_Proceedings-of-the-International-Scientific__-Conference_202180-2-338-351.pdf</a>

  • DOI - Digital Object Identifier

Alternative languages

  • Result language

    angličtina

  • Original language name

    Cournot Oligopoly And Chaos Theory – Impact For Economic Modelling

  • Original language description

    The main aim of this paper is to show the importance of chaos theory in economics by using the example of the Cournot oligopoly model. The purpose is not to describe the essence of chaos theory as such, which has been the subject of many mathematical or physical studies, but to point out the insights and significance of chaos theory used in the framework of the Cournot oligopoly. This paper is intended to be a reflection on the relevance of chaos theory in oligopoly games, especially in an economic context. The paper briefly describes the historical development of the use of chaos theory in the Cournot oligopoly model, its basic mathematical definition, and a simple example of an application of chaos theory. Understanding the subsets of chaos theory in the context of economics highlights the importance of a deterministic approach to economics, the impossibility of making long- run predictions, but the ability to correct and manage the system to avoid complex oscillations. Oligopolistic structures, with their simpler system than perfect congruence, allow chaos theory to be implemented appropriately.

  • Czech name

  • Czech description

Classification

  • Type

    D - Article in proceedings

  • CEP classification

  • OECD FORD branch

    50202 - Applied Economics, Econometrics

Result continuities

  • Project

  • Continuities

    N - Vyzkumna aktivita podporovana z neverejnych zdroju

Others

  • Publication year

    2021

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Article name in the collection

    Proceedings of the International Scientific Conference ECONOMIC AND SOCIAL POLICY

  • ISBN

    978-80-87291-29-0

  • ISSN

    2571-1776

  • e-ISSN

    2694-796X

  • Number of pages

    14

  • Pages from-to

    326-339

  • Publisher name

    Vysoká škola PRIGO, z.ú.

  • Place of publication

    Ostrava

  • Event location

    Čeladná

  • Event date

    Jan 1, 2021

  • Type of event by nationality

    EUR - Evropská akce

  • UT code for WoS article