Analysis of nonlinear triopoly game with heterogeneous players

A nonlinear triopoly game with heterogeneous players is presented. We consider three types of players; boundedly rational, adaptive, and naive. A triopoly game is modelled by a three dimensional discrete dynamical system. The stability conditions of the equilibrium points are analyzed. Numerical sim...

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Bibliographic Details
Published inComputers & mathematics with applications (1987) Vol. 57; no. 3; pp. 488 - 499
Main Authors Elabbasy, E.M., Agiza, H.N., Elsadany, A.A.
Format Journal Article
LanguageEnglish
Published Elsevier Ltd 01.02.2009
Subjects
Computer simulation
Delay
DFC method
Dynamical systems
Fractal analysis
Fractal dimension
Games
Heterogeneous players
Mathematical models
Nonlinearity
Players
Triopoly game
Triopoly game
Fractal dimension
DFC method
Heterogeneous players
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Summary:A nonlinear triopoly game with heterogeneous players is presented. We consider three types of players; boundedly rational, adaptive, and naive. A triopoly game is modelled by a three dimensional discrete dynamical system. The stability conditions of the equilibrium points are analyzed. Numerical simulations are used to show bifurcation diagrams, phase portraits, sensitive dependence on initial conditions and fractal dimension. The chaotic behavior of the model has been stabilized on the Nash equilibrium point, by the use of the Pyragas delay feedback control method.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
ISSN:0898-1221
1873-7668
DOI:10.1016/j.camwa.2008.09.046