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Complexity Analysis of a Cournot-Bertrand Duopoly Game Model with Limited Information

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  • Hongwu Wang
  • Junhai Ma

Abstract

A Cournot-Bertrand mixed duopoly game model with limited information about the market and opponent is considered, where the market has linear demand and two firms have the same fixed marginal cost. The principles of decision-making are bounded rational. One firm chooses output and the other chooses price as decision variable, with the assumption that there is a certain degree of differentiation between the products offered by firms to avoid the whole market being occupied by the one that applies a lower price. The existence of Nash equilibrium point and its local stability of the game are investigated. The complex dynamics, such as bifurcation scenarios and route to chaos, are displayed using parameter basin plots by numerical experiment. The influences of the parameters on the system performance are discussed from the perspective of economics.

Suggested Citation

  • Hongwu Wang & Junhai Ma, 2013. "Complexity Analysis of a Cournot-Bertrand Duopoly Game Model with Limited Information," Discrete Dynamics in Nature and Society, Hindawi, vol. 2013, pages 1-6, March.
    • Handle: RePEc:hin:jnddns:287371
    DOI: 10.1155/2013/287371
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    Cited by:

    1. Askar, S.S., 2021. "On complex dynamics of Cournot-Bertrand game with asymmetric market information," Applied Mathematics and Computation, Elsevier, vol. 393(C).
    2. Askar, S.S., 2022. "On the dynamics of Cournot duopoly game with private firms: Investigations and analysis," Applied Mathematics and Computation, Elsevier, vol. 432(C).

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