Analysis on the dynamics of a Cournot investment game with bounded rationality

Ding, Zhanwen; Wang, Qiao; Jiang, Shumin

doi:10.1016/j.econmod.2014.02.030

Cited by 18 publications

(19 citation statements)

References 25 publications

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“…Let q i ðtÞ represent the output of firm i during period t. The market price pðtÞ in period t is determined by the total supply Q ðtÞ ¼ q 1 ðtÞ þ q 2 ðtÞ through an inverse demand function p ¼ f ðQ Þ. In our model we also consider a linear form for pðtÞ [4,10,12,[14][15][16][17][18][19]21]:…”

Section: The Modelmentioning

confidence: 99%

“…a new energy market). However, the decision makers in the work by Ding et al [21] are homogeneous so that they adjust investment decisions by a same method. In this work we will reconsider such a kind of Cournot investment game, which is supposed to be played by two heterogeneous players: one is boundedly rational and the other is naïve.…”

Section: Introductionmentioning

confidence: 99%

“…However, this implicit assumption may be impractical in an economy market where investment is of great significance. Ding et al [21] studied a dynamical system of investment game played by two firms with bounded rationality. In this system, each producer's decision emphasizes on the investment flow when it is not able to keep productivity large enough due to its lack of capital accumulation, especially in an emerging and immature industry under development (e.g.…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Dynamics in a Cournot investment game with heterogeneous players

Ding¹,

Li²,

Jiang³

et al. 2015

Applied Mathematics and Computation

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Section: The Modelmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Dynamics in a Cournot investment game with heterogeneous players

Ding¹,

Li²,

Jiang³

et al. 2015

Applied Mathematics and Computation

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“…In this section, we show that the usually used method of time-delayed feedback control (e.g., [32,[36][37][38]) can also be used to control the chaos in our model.…”

Section: Chaos Controlmentioning

confidence: 99%

“…To give a specific form for dynamics (10), in our model we also assume linear inverse demand function [5,9,10,13,14,18,23,24,26,[32][33][34]:…”

Section: Two Different Delay Structuresmentioning

confidence: 99%

Dynamics of a Duopoly Game with Two Different Delay Structures

Jiang¹,

Xu²,

Ding³

et al. 2017

Discrete Dynamics in Nature and Society

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Two different time delay structures for the dynamical Cournot game with two heterogeneous players are considered in this paper, in which a player is assumed to make decision via his marginal profit with time delay and another is assumed to adjust strategy according to the delayed price. The dynamics of both players output adjustments are analyzed and simulated. The time delay for the marginal profit has more influence on the dynamical behaviors of the system while the market price delay has less effect, and an intermediate level of the delay weight for the marginal profit can expand the stability region and thus promote the system stability. It is also shown that the system may lose stability due to either a period-doubling bifurcation or a Neimark-Sacker bifurcation. Numerical simulations show that the chaotic behaviors can be stabilized by the time-delayed feedback control, and the two different delays play different roles on the system controllability: the delay of the marginal profit has more influence on the system control than the delay of the market price.

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