We study a triopoly game with heterogeneous players. The market is characterized by a nonlinear (isoelastic) demand function and three competitors. The main novelty is the double route to complex dynamics that we find and is quite rare in heterogeneous triopoly models. We show that the two routes have important implications for the economic interpretation of the dynamics emerging when the Cournot–Nash equilibrium becomes locally unstable. Moreover the model displays multistability of different attractors, requiring a global analysis of the dynamical system.

Naimzada, A., Tramontana, F., Two different routes to complex dynamics in an heterogeneous triopoly game, <<JOURNAL OF DIFFERENCE EQUATIONS AND APPLICATIONS>>, N/A; (N/A): N/A-N/A. [doi:10.1080/10236198.2015.1040403] [http://hdl.handle.net/10807/67438]

Two different routes to complex dynamics in an heterogeneous triopoly game

Tramontana, Fabio
2015

Abstract

We study a triopoly game with heterogeneous players. The market is characterized by a nonlinear (isoelastic) demand function and three competitors. The main novelty is the double route to complex dynamics that we find and is quite rare in heterogeneous triopoly models. We show that the two routes have important implications for the economic interpretation of the dynamics emerging when the Cournot–Nash equilibrium becomes locally unstable. Moreover the model displays multistability of different attractors, requiring a global analysis of the dynamical system.
Inglese
Naimzada, A., Tramontana, F., Two different routes to complex dynamics in an heterogeneous triopoly game, <<JOURNAL OF DIFFERENCE EQUATIONS AND APPLICATIONS>>, N/A; (N/A): N/A-N/A. [doi:10.1080/10236198.2015.1040403] [http://hdl.handle.net/10807/67438]
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/10807/67438
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