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Research on a Dynamic Master-Slave Cournot Triopoly Game Model with Bounded Rational Rule and Its Control

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  • Hongliang Tu
  • Xinyu Wang

Abstract

The oligopoly market is modelled by a new dynamic master-slave Cournot triopoly game model with bounded rational rule. The local stabile conditions and the stable region are got by the dynamical systems bifurcation theory. The dynamics characteristics of the system with the changes of the adjustment speed parameters are analyzed by means of bifurcation diagram, largest Lyapunov exponents, phase portrait, and sensitive dependence on initial conditions. Furthermore, the parameters adjustment method is used to control the complex dynamical behaviors of the systems. The derived results have some important theoretical and practical meanings for the oligopoly market.

Suggested Citation

  • Hongliang Tu & Xinyu Wang, 2016. "Research on a Dynamic Master-Slave Cournot Triopoly Game Model with Bounded Rational Rule and Its Control," Mathematical Problems in Engineering, Hindawi, vol. 2016, pages 1-11, March.
    • Handle: RePEc:hin:jnlmpe:2353909
    DOI: 10.1155/2016/2353909
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