Cournot oligopoly and chaos theory - impact for economic modeling

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27740%2F21%3A10250284" target="_blank" >RIV/61989100:27740/21:10250284 - isvavai.cz</a>

Nalezeny alternativní kódy

RIV/61989100:27240/21:10250284

Výsledek na webu

—

DOI - Digital Object Identifier

—

Jazyk výsledku

angličtina

Název v původním jazyce

Cournot oligopoly and chaos theory - impact for economic modeling

Popis výsledku v původním jazyce

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 longrun 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.

Název v anglickém jazyce

Cournot oligopoly and chaos theory - impact for economic modeling

Popis výsledku anglicky

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 longrun 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.

Druh

D - Stať ve sborníku

CEP obor

—

OECD FORD obor

50200 - Economics and Business

Projekt

<a href="/cs/project/LM2018140" target="_blank" >LM2018140: e-Infrastruktura CZ</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)<br>S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2021

Kód důvěrnosti údajů

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

Název statě ve sborníku

Economic and Social Policy : proceedings of the international scientific conference : September 7–9, 2021, Čeladná, Czech Republic

ISBN

978-80-87291-29-0

ISSN

2571-1776

e-ISSN

—

Počet stran výsledku

14

Strana od-do

326-339

Název nakladatele

PRIGO University

Místo vydání

Ostrava

Místo konání akce

Čeladná

Datum konání akce

7. 9. 2021

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

000836186000029