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Detecting Chaos in a Duopoly Model via Symbolic Dynamics
Univ Politecn Cartagena, Dpto Matemat Aplicada Estadist, Spain.
Umeå University, Faculty of Social Sciences, Centre for Regional Science (CERUM).
Univ Politecn Cartagena, Dpto Metodos Cuantitat Informat, Spain.
2010 (English)In: Discrete and continuous dynamical systems. Series B, ISSN 1531-3492, Vol. 13, no 2, 269-278 p.Article in journal (Refereed) Published
Abstract [en]

This paper considers a Cournot duopoly model assuming isoelastic demand and smooth cost functions with built-in capacity limits. When the firms cannot obtain positive profits they are assumed to choose small "stand-by" outputs rather than closing down, in order to avoid substantial fitting up costs when market conditions turnout more favorable. It is shown that the model provides chaotic behavior. In particular, the system has positive topological entropy and hence the map is chaotic in the Li-Yorke sense. Moreover, chaos is not only topological but also physically observable.

Place, publisher, year, edition, pages
Springfield, USA: American Institute of Mathematical Sciences , 2010. Vol. 13, no 2, 269-278 p.
Keyword [en]
duopoly games, topological entropy, Li-Yorke chaos, nonautonomous systems
National Category
Computational Mathematics
URN: urn:nbn:se:umu:diva-32451DOI: 10.3934/dcdsb.2010.13.269ISI: 000273231800002OAI: diva2:303265
Available from: 2010-03-11 Created: 2010-03-11Bibliographically approved

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