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Complex Dynamics of Mixed Triopoly Game with Quantity and Price Competition

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  • Jing Wang
  • Zhenhua Bao
  • Junqing Huang
  • Yujing Song
  • Abdul Qadeer Khan

Abstract

This article investigates the dynamics of a mixed triopoly game in which a state-owned public firm competes against two private firms. In this game, the public firm and private firms are considered to be boundedly rational and naive, respectively. Based on both quantity and price competition, the game’s equilibrium points are calculated, and then the local stability of boundary points and the Nash equilibrium points is analyzed. Numerical simulations are presented to display the dynamic behaviors including bifurcation diagrams, maximal Lyapunov exponent, and sensitive dependence on initial conditions. The chaotic behavior of the two models has been stabilized on the Nash equilibrium point by using the delay feedback control method. The thresholds under price and quantity competition are also compared.

Suggested Citation

  • Jing Wang & Zhenhua Bao & Junqing Huang & Yujing Song & Abdul Qadeer Khan, 2021. "Complex Dynamics of Mixed Triopoly Game with Quantity and Price Competition," Discrete Dynamics in Nature and Society, Hindawi, vol. 2021, pages 1-15, July.
    • Handle: RePEc:hin:jnddns:9532340
    DOI: 10.1155/2021/9532340
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    Cited by:

    1. Culda, Loredana Camelia & Kaslik, Eva & Neamţu, Mihaela & Sîrghi, Nicoleta, 2024. "Dynamics of a discrete-time mixed oligopoly Cournot-type model with three time delays," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 226(C), pages 524-539.

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