The dynamics of Bowley's model with bounded rationality

被引：141

作者：

Agiza, HN ^{[1
]}

Hegazi, AS ^{[1
]}

Elsadany, AA ^{[1
]}

机构：

[1] Univ Mansoura, Fac Sci, Dept Math, Mansoura 35516, Egypt

来源：

CHAOS SOLITONS & FRACTALS | 2001年 / 12卷 / 09期

关键词：

D O I：

10.1016/S0960-0779(00)00021-7

中图分类号：

O1 [数学];

学科分类号：

0701 ; 070101 ;

摘要：

A nonlinear dynamical system which describe the time evolution of n-competitors in a Cournot game (Bowley's model) with bounded rationality is analyzed. The existence and stability of the equilibria of this system is studied. The stability conditions of the steady states for two and three players are explicitly computed. Complex behavior such as cycles and chaotic behavior are observed by numerical simulation. Delayed Bowley's with bounded rationality in monopoly is studied. We show that firms using bounded rationality with delay has a higher chance of reaching Nash equilibrium. (C) 2001 Elsevier Science Ltd. All rights reserved.

引用

页码：1705 / 1717

页数：13

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