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Chaos and Control of Game Model Based on Heterogeneous Expectations in Electric Power Triopoly

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  • Weizhuo Ji

Abstract

A dynamic repeated game model has been established based on heterogeneous expectations in electric power triopoly. Theoretical analysis and numerical simulation show the complexity of this model; suppose that the producers make decisions with naive expectation and bounded rationality. The straight-line stabilization chaos control method was successfully applied to the dynamic repeated game model. The results have important practical value for the producers in the electric power oligopoly.

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  • Weizhuo Ji, 2009. "Chaos and Control of Game Model Based on Heterogeneous Expectations in Electric Power Triopoly," Discrete Dynamics in Nature and Society, Hindawi, vol. 2009, pages 1-8, February.
    • Handle: RePEc:hin:jnddns:469564
    DOI: 10.1155/2009/469564
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    Cited by:

    1. Andrikopoulos, A. & Dassiou, X., 2018. "Exchange-rate exposure in a “Rule of Three” Model," Working Papers 18/02, Department of Economics, City University London.

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