Global Bifurcations in Duopoly when the Cournot Point is Destabilized through a Subcritical Neimark Bifuraction
نویسندگان
چکیده
An adaptive oligopoly model, where the demand function is isoelastic and the competitors operate under constant marginal costs, is considered. The Cournot equilibrium point then loses stability through a subcritical Neimark bifurcation. The present paper focuses some global bifurcations, which precede the Neimark bifurcation, and produce other attractors which coexist with the still attractive Cournot fixed point. Font: Minion (Adobe) Working Paper : --- – ; Umeå University; - Umeå; Sweden Ph.: +--. Fax: +--. Email: [email protected] www.umu.se/cerum
منابع مشابه
Global bifurcations in duopoly when the Cournot Point is Destabilized via a Subcritical Neimark bifurcation
An adaptive oligopoly model, where the demand function is isoelastic and the competitors operate under constant marginal costs, is considered. The Cournot equilibrium point then loses stability through a subcritical Neimark bifurcation. The present paper focuses some global bifurcations, which precede the Neimark bifurcation, and produce other attractors which coexist with the still attractive ...
متن کاملSome global bifurcations related to the appearance of closed invariant curves
In this paper, we consider a two-dimensional map (a duopoly game) in which the fixed point is destabilized via a subcritical Neimark–Hopf (N–H) bifurcation. Our aim is to investigate, via numerical examples, some global bifurcations associated with the appearance of repelling closed invariant curves involved in the Neimark–Hopf bifurcations. We shall see that the mechanism is not unique, and th...
متن کاملCenter bifurcation for Two-Dimensional Border-Collision Normal Form
In this work we study some properties associated with the bordercollision bifurcations in a two-dimensional piecewise linear map in canonical form, related to the case in which a xed point of one of the linear maps has complex eigenvalues and undergoes a center bifurcation when its eigenvalues pass through the unit circle. This problem is faced in several applied piecewise smooth models, such ...
متن کاملLocal and Global bifurcations in Three-Dimensional, Continuous, Piecewise Smooth Maps
In this work, we study the dynamics of a three-dimensional, continuous, piecewise smooth map. Much of the nontrivial dynamics of this map occur when its fixed point or periodic orbit hits the switching manifold resulting in the so-called border collision bifurcation. We study the local and global bifurcation phenomena resulting from such borderline collisions. The conditions for the occurrence ...
متن کاملNonlinear dynamics in a Cournot duopoly with relative profit delegation
The present study analyses the dynamics of a nonlinear Cournot duopoly with managerial delegation and bounded rational players. Problems concerning strategic delegation (based on relative performance evaluations) have recently received in depth attention in both the theoretical and empirical industrial economics literatures. In this paper, we take a dynamic view of this problem and assume that ...
متن کامل