Cournot oligopoly models with time delays
type: Item
instance of: scholarly article
title: Cournot oligopoly models with time delays
zbMATH Open document ID: 0553.90019
DOI: 10.1016/0304-4068(84)90009-0
author: T. D. Howroyd
author: A. M. Russell
published in: Journal of Mathematical Economics
publication date: 1984-01-01T00:00:00Z
review text: Dynamic stability in the Cournot oligopoly problem is investigated. The author considers a system of competing firms which adjust their levels of production based on information subject to delays. Two models of adjustment processes, both in continuous and discrete time settings, are considered. In the first one, all the information being used, own output included, is delayed. It is shown that the stability of both adjustment processes depends on the sizes of the delays. Namely, they should not exceed certain values. In the second model each firm's adjustment is based on a delay knowledge of its rivals' outputs but the current level of the own one. In contrast to the previous model it is shown that the stability of the adjustment is not affected by the sizes of the delays.
Mathematics Subject Classification ID: 91B24
Mathematics Subject Classification ID: 91B62
zbMATH DE Number: 3882148
zbMATH Keywords: Dynamic stability
zbMATH Keywords: Cournot oligopoly problem
zbMATH Keywords: adjustment processes
zbMATH Keywords: continuous and discrete time
zbMATH Keywords: delays
MaRDI profile type: Publication
full work available at URL: 0304-4068(84)90009-0
OpenAlex ID: W2056504266
cites work: Expectations and stability in oligopoly models
description: scientific article; zbMATH DE number 3882148