New Analyses of Duopoly Game with Output Lower Limiters
In the real business world, player sometimes would offer a limiter to their output due to capacity constraints, financial constraints, or cautious response to uncertainty in the world. In this paper, we modify a duopoly game with bounded rationality by imposing lower limiters on output. Within our m...
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| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Wiley
2013-01-01
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| Series: | Abstract and Applied Analysis |
| Online Access: | http://dx.doi.org/10.1155/2013/406743 |
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| author | Zhaohan Sheng Jianguo Du Qiang Mei Tingwen Huang |
| author_facet | Zhaohan Sheng Jianguo Du Qiang Mei Tingwen Huang |
| author_sort | Zhaohan Sheng |
| collection | DOAJ |
| description | In the real business world, player sometimes would offer a limiter to their output due to capacity constraints, financial constraints, or cautious response to uncertainty in the world. In this paper, we modify a duopoly game with bounded rationality by imposing lower limiters on output. Within our model, we analyze how lower limiters have an effect on dynamics of output and give proof in theory why adding lower limiters can suppress chaos. We also explore the numbers of the equilibrium points and the distribution of conditioned equilibrium points. Stable region of the conditioned equilibrium is discussed. Numerical experiments show that the output evolution system having lower limiters becomes more robust than without them, and chaos disappears if the lower limiters are big enough. The local or global stability of the conditional equilibrium points provides a theoretical basis for the limiter control method of chaos in economic systems. |
| format | Article |
| id | doaj-art-e0c3c4dfe77e4742956428d1d7e23249 |
| institution | Kabale University |
| issn | 1085-3375 1687-0409 |
| language | English |
| publishDate | 2013-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Abstract and Applied Analysis |
| spelling | doaj-art-e0c3c4dfe77e4742956428d1d7e232492025-02-03T01:23:57ZengWileyAbstract and Applied Analysis1085-33751687-04092013-01-01201310.1155/2013/406743406743New Analyses of Duopoly Game with Output Lower LimitersZhaohan Sheng0Jianguo Du1Qiang Mei2Tingwen Huang3School of Management Science and Engineering, Nanjing University, Nanjing 210093, ChinaSchool of Management, Jiangsu University, Zhenjiang 212013, ChinaSchool of Management, Jiangsu University, Zhenjiang 212013, ChinaTexas A&M University at Qatar, P.O. Box 23874, Doha, QatarIn the real business world, player sometimes would offer a limiter to their output due to capacity constraints, financial constraints, or cautious response to uncertainty in the world. In this paper, we modify a duopoly game with bounded rationality by imposing lower limiters on output. Within our model, we analyze how lower limiters have an effect on dynamics of output and give proof in theory why adding lower limiters can suppress chaos. We also explore the numbers of the equilibrium points and the distribution of conditioned equilibrium points. Stable region of the conditioned equilibrium is discussed. Numerical experiments show that the output evolution system having lower limiters becomes more robust than without them, and chaos disappears if the lower limiters are big enough. The local or global stability of the conditional equilibrium points provides a theoretical basis for the limiter control method of chaos in economic systems.http://dx.doi.org/10.1155/2013/406743 |
| spellingShingle | Zhaohan Sheng Jianguo Du Qiang Mei Tingwen Huang New Analyses of Duopoly Game with Output Lower Limiters Abstract and Applied Analysis |
| title | New Analyses of Duopoly Game with Output Lower Limiters |
| title_full | New Analyses of Duopoly Game with Output Lower Limiters |
| title_fullStr | New Analyses of Duopoly Game with Output Lower Limiters |
| title_full_unstemmed | New Analyses of Duopoly Game with Output Lower Limiters |
| title_short | New Analyses of Duopoly Game with Output Lower Limiters |
| title_sort | new analyses of duopoly game with output lower limiters |
| url | http://dx.doi.org/10.1155/2013/406743 |
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