WSEAS Transactions on Systems and Control
Print ISSN: 1991-8763, E-ISSN: 2224-2856
Volume 11, 2016
Research on a Cournot-Bertrand Triopoly Game Between the Upstream Firms and the Downstream Firm
Authors: , ,
Abstract: In this paper, a new Cournot-Bertrand triopoly game between the upstream firms and the downstream firm is established, which is closer to the reality of the modern enterprises in the real economy. Using nonlinear dynamics and bifurcation theory, the local stable region of the Nash equilibrium point is obtained, and its complex dynamics are described by means of the bifurcation diagrams, the largest Lyapunov exponents and the phase portraits. The stability of the Nash equilibrium will change and even the complex dynamics such as doubling period bifurcation and chaos happen when the adjustment speed parameter exceeds a certain critical value. Furthermore, by using the straight-line stabilization method, the chaos can be eliminated. This paper has an important theoretical and practical significance to the enterprises under the background of globalization.
Search Articles
Keywords: Nonlinear dynamic system, Complexity, Chaos, Cournot-Bertrand triopoly game, Bounded rationality players
Pages: 255-265
WSEAS Transactions on Systems and Control, ISSN / E-ISSN: 1991-8763 / 2224-2856, Volume 11, 2016, Art. #29