Dynamics of a delayed duopoly game with bounded rationality

Authors:
A. A. Elsadany
Affiliations:
-
Venue:
Mathematical and Computer Modelling: An International Journal
Year:
2010

Citing 4
Cited 0

An introduction to difference equations

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Complex dynamics and synchronization of a duopoly game with bounded rationality

Mathematics and Computers in Simulation
Analysis of a duopoly game with delayed bounded rationality

Applied Mathematics and Computation

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Abstract

A bounded rationality duopoly game with delay is formulated. Its dynamical evolution is analyzed. The existence of an economic equilibrium of the game is derived. The local stability analysis has been carried out. The analysis showed that firms using delayed bounded rationality have a higher chance of reaching a Nash equilibrium point. Numerical simulations were used to show bifurcation diagrams and phase portraits.