Study on triopoly dynamic game model based on different demand forecast methods in the market
type: Item
instance of: scholarly article
title: Study on triopoly dynamic game model based on different demand forecast methods in the market
zbMATH Open document ID: 1377.91016
DOI: 10.1155/2017/5434680
author: Junhai Ma
author: Lijian Sun
author: Xueli Zhan
published in: Complexity
publication date: 2018-01-05T00:00:00Z
review text: Summary: The impact of inaccurate demand beliefs on dynamics of a Triopoly game is studied. We suppose that all the players make their own estimations on possible demand with errors. A dynamic Triopoly game with such demand belief is set up. Based on this model, existence and local stable region of the equilibriums are investigated by 3D stable regions of Nash equilibrium point. The complex dynamics, such as bifurcation scenarios and route to chaos, are displayed in 2D bifurcation diagrams, in which \(e_1\) and \(\alpha\) are negatively related to each other. Basins of attraction are investigated and we found that the attraction domain becomes smaller with the increase in price modification speed, which indicates that all the players' output must be kept within a certain range so as to keep the system stable. Feedback control method is used to keep the system at an equilibrium state.
Mathematics Subject Classification ID: 91B55
Mathematics Subject Classification ID: 91A10
Mathematics Subject Classification ID: 93B52
zbMATH DE Number: 6822316
zbMATH Keywords: triopoly game
zbMATH Keywords: Nash equilibrium point
zbMATH Keywords: complex dynamics
zbMATH Keywords: bifurcation scenarios
zbMATH Keywords: chaos
MaRDI profile type: Publication
full work available at URL: https://doi.org/10.1155/2017/5434680
OpenAlex ID: W2731241326
Wikidata QID: Q59142916
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DBLP publication ID: journals/complexity/MaSZ17
description: scientific article; zbMATH DE number 6822316