English, Article, Journal or magazine article edition: Complex Dynamics in Simple Cournot Duopoly Games Diana A. Mendes; Vivaldo M. Mendes; Orlando Gomes

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Bookmark: http://trove.nla.gov.au/version/162013
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Complex Dynamics in Simple Cournot Duopoly Games
Author
  • Diana A. Mendes
  • Vivaldo M. Mendes
  • Orlando Gomes
Physical Description
  • preprint
Notes
  • The main aim of this paper is to analyse the dynamics of nonlinear discrete-time maps generated by duopoly games with heterogeneous and quadratic cost functions, in which players do not form expetations about the rival’s actions accordingto the ratioal expectations hypothesis. We discusse here two cases. In the first one we introduce games with boundedly rational players and in the second one games with adaptive expectations. The dynamics are mainly analysed by numerical simulations. There are always multiple equilibria, and the significance of the Nash equilibria is pointed out.
  • RePEc:isc:wpaper:ercwp1008
Language
  • English
Contributed by
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