On modifications of Puu's dynamical duopoly

E. Ahmed, H. N. Agiza, S. Z. Hassan

Research output: Contribution to journalJournal articlepeer-review

70 Scopus citations

Abstract

Puu's economic dynamical model is extended to the following cases: Bounded rationality, differentiated goods and bounded rationality with delay. It is shown that delay increases stability. Hence firms using bounded rationality with delay has a higher chance of reaching Nash equilibrium. Stability and instability (cycles and chaos) conditions for all these cases are determined.

Original languageEnglish
Pages (from-to)1025-1028
Number of pages4
JournalChaos, Solitons and Fractals
Volume11
Issue number7
DOIs
StatePublished - 1 Jun 2000
Externally publishedYes

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