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Chaos in duopoly pricing
Umeå University, Faculty of Social Sciences, Department of Economics.
1991 (English)In: Chaos, Solitons & Fractals, ISSN 0960-0779, Vol. 1, no 6, 573-581 p.Article in journal (Refereed) Published
Abstract [en]

The dynamics of two competing firms in a market is studied in terms of Cournot's duopoly theory. Assuming iso-elastic demand and constant unit production costs the iterative mapping

for the outputs of the two firms ensues. The two constants are the unit production costs. The fixed point, the Cournot equilibrium, has earlier been assumed to be the only interesting feature of this model. It is, however, shown that the model can produce persistent motion, periodic or chaotic. 

Place, publisher, year, edition, pages
1991. Vol. 1, no 6, 573-581 p.
National Category
URN: urn:nbn:se:umu:diva-24557DOI: 10.1016/0960-0779(91)90045-BOAI: diva2:226692
Available from: 2009-07-03 Created: 2009-07-03

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