Duopoly Output Game with Bounded Rationality and Limiter Control
Based on the bounded rationality strategy, a duopoly output game model is constructed in this paper. The local stability conditions of Nash equilibrium point of the model are also analyzed by employing the well-known Jury’s criteria. The results show that the model has three boundary fixed points and a local stable Nash equilibrium point. When the combination values of the two firms’ adjustment speed are out of the local stability region, some more complex dynamic phenomena will be caused such as bifurcation and chaos. In order to eliminate chaos and improve the profit level, a limiter control scheme is designed. Numerical simulations further verify that the designed limiter control scheme is feasible and effective to eliminate chaos and improve profit level.
Key words: Duopoly game; Bounded rationality; Limiter control; Chaos
- There are currently no refbacks.
If you have already registered in Journal A and plan to submit article(s) to Journal B, please click the CATEGORIES, or JOURNALS A-Z on the right side of the "HOME".
We only use three mailboxes as follows to deal with issues about paper acceptance, payment and submission of electronic versions of our journals to databases:
email@example.com; firstname.lastname@example.org; email@example.com
Copyright © 2010 Canadian Research & Development Centre of Sciences and Cultures
Address: 758, 77e AV, Laval, Quebec, H7V 4A8, Canada
Telephone: 1-514-558 6138