A special learning process with time delay

نویسندگان

  • H. Qiao
  • J. Rozenblit
  • F. Szidarovszky
  • F. SZIDAROVSZKY
چکیده

A special learning process is examined in linear N -firm oligopolies in which the firms adjust their beliefs on the price function adaptively based on predicted and actual prices. It is assumed that the price information is delayed, which results in a system of difference-differential equations. In the case of identical speed of adjustment a complete spectrum analysis is given which leads to determining the stability region as well as stability switches. It is shown that only the smallest such threshold gives stability switch, where Hopf bifurcation occurs.

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تاریخ انتشار 2012