Nonlinear Phenomena in Cournot Duopoly Model

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F18%3A50014653" target="_blank" >RIV/62690094:18450/18:50014653 - isvavai.cz</a>

Result on the web

<a href="https://www.mdpi.com/2079-8954/6/3/30" target="_blank" >https://www.mdpi.com/2079-8954/6/3/30</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.3390/systems6030030" target="_blank" >10.3390/systems6030030</a>

Result language

angličtina

Original language name

Nonlinear Phenomena in Cournot Duopoly Model

Original language description

The economic world is very dynamic, and most phenomena appearing in this world are mutually interconnected. These connections may result in the emergence of nonlinear relationships among economic agents. Research discussions about different markets’ structures cannot be considered as finished yet. Even such a well-known concept as oligopoly can be described with different models applying diverse assumptions and using various values of parameters; for example, the Cournot duopoly game, Bertrand duopoly game or Stackelberg duopoly game can be and are used. These models usually assume linear functions and make analyses of the behavior of the two companies. The aim of this paper is to consider a nonlinear inverse demand function in the Cournot duopoly model. Supposing there is a sufficiently large proportion among the costs of the two companies, we can possibly detect nonlinear phenomena such as bifurcation of limit values of production or deterministic chaos. To prove a sensitive dependence on the initial condition, which accompanies deterministic chaos, the concept of Lyapunov exponents is used. We also point out the fact that even though some particular values of parameters are irrelevant for the above-mentioned nonlinear phenomena, it is worth being aware of their existence.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

10102 - Applied mathematics

Project

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Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2018

Confidentiality

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

Name of the periodical

Systems

ISSN

2079-8954

e-ISSN

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Volume of the periodical

6

Issue of the periodical within the volume

3

Country of publishing house

CH - SWITZERLAND

Number of pages

15

Pages from-to

1-15

UT code for WoS article

000447945800005

EID of the result in the Scopus database

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