Chaos Control on a Duopoly Game with Homogeneous Strategy. (12th July 2016)

• Record Type: Journal Article
• Authors: Bai, Manying; Gao, Yazhou
• Other Names: Volos Christos K. Academic Editor.
• Is Part Of: Discrete dynamics in nature and society. Volume 2016(2016)
• Publication Date: 2016-07-12
• Subjects: System analysis -- Periodicals; Dynamics -- Periodicals; Chaotic behavior in systems -- Periodicals; Differentiable dynamical systems -- Periodicals; 003.05
• DOI: 10.1155/2016/7418252
• Languages: English
• ISSNs: 1026-0226

Abstract

Abstract : We study the dynamics of a nonlinear discrete-time duopoly game, where the players have homogenous knowledge on the market demand and decide their outputs based on adaptive expectation. The Nash equilibrium and its local stability are investigated. The numerical simulation results show that the model may exhibit chaotic phenomena. Quasiperiodicity is also found by setting the parameters at specific values. The system can be stabilized to a stable state by using delayed feedback control method. The discussion of control strategy shows that the effect of both firms taking control method is better than that of single firm taking control method.