WSEAS Transactions on Mathematics
Print ISSN: 1109-2769, E-ISSN: 2224-2880
Volume 13, 2014
Hyperchaotic Dynamic of Cournot-Bertrand Duopoly Game with Multi-Product and Chaos Control
Authors: ,
Abstract: In real market, firms usually produce multi-product for some reasons, such as cost-saving advantages, catering for the diversity of consumer tastes and providing a barrier to entry. In this paper, Cournot-Bertrand duopoly game with two-product is presented. According to the different statuses of the products, the bounded rationality is expanded as the ordinary bounded rationality and the cautious bounded rationality. The bifurcation diagrams, the Lyapunov exponents, the attractors and the initial condition sensitiveness are investigated by numer- ical simulations. The simulation results show that the economic model is a novel four-dimensional hyperchaotic system which may appear flip-hopf bifurcation and wave shape chaos. The system is more complex and uncer- tain than ordinary chaos system, and it is disadvantage to firm’s decision. At last, the nonlinear feedback control method is applied to the system, and achieves good effect. The results of this paper provide reference to practical industrial structure of this type, and are of theoretical and practical significance.
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Pages: 152-160
WSEAS Transactions on Mathematics, ISSN / E-ISSN: 1109-2769 / 2224-2880, Volume 13, 2014, Art. #16