Equilibrium Further Studied for Combined System of Cournot and Bertrand: A Differential Approach
In general, quantity competition and price competition exist simultaneously in a dynamic economy system. Whether it is quantity competition or price competition, when there are more than three companies in one market, the equilibrium points will become chaotic and are very difficult to be derived. T...
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| Format: | Article |
| Language: | English |
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Wiley
2020-01-01
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| Series: | Complexity |
| Online Access: | http://dx.doi.org/10.1155/2020/3160658 |
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| _version_ | 1832566253246480384 |
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| author | Bingyuan Gao Yueping Du |
| author_facet | Bingyuan Gao Yueping Du |
| author_sort | Bingyuan Gao |
| collection | DOAJ |
| description | In general, quantity competition and price competition exist simultaneously in a dynamic economy system. Whether it is quantity competition or price competition, when there are more than three companies in one market, the equilibrium points will become chaotic and are very difficult to be derived. This paper considers generally dynamic equilibrium points of combination of the Bertrand model and Cournot model. We analyze general equilibrium points of the Bertrand model and Cournot model, respectively. A general equilibrium point of the combination of the Cournot model and Bertrand model is further investigated in two cases. The theory of spatial agglomeration and intermediate value theorem are introduced. In addition, the stability of equilibrium points is further illustrated on celestial bodies motion. The results show that at least a general equilibrium point exists in combination of Cournot and Bertrand. Numerical simulations are given to support the research results. |
| format | Article |
| id | doaj-art-e49c163145244f7eb619a5478b7f3943 |
| institution | Kabale University |
| issn | 1076-2787 1099-0526 |
| language | English |
| publishDate | 2020-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Complexity |
| spelling | doaj-art-e49c163145244f7eb619a5478b7f39432025-02-03T01:04:40ZengWileyComplexity1076-27871099-05262020-01-01202010.1155/2020/31606583160658Equilibrium Further Studied for Combined System of Cournot and Bertrand: A Differential ApproachBingyuan Gao0Yueping Du1School of Economics and Management, Xidian University, Xi’an 710126, ChinaSchool of Economics and Management, Xidian University, Xi’an 710126, ChinaIn general, quantity competition and price competition exist simultaneously in a dynamic economy system. Whether it is quantity competition or price competition, when there are more than three companies in one market, the equilibrium points will become chaotic and are very difficult to be derived. This paper considers generally dynamic equilibrium points of combination of the Bertrand model and Cournot model. We analyze general equilibrium points of the Bertrand model and Cournot model, respectively. A general equilibrium point of the combination of the Cournot model and Bertrand model is further investigated in two cases. The theory of spatial agglomeration and intermediate value theorem are introduced. In addition, the stability of equilibrium points is further illustrated on celestial bodies motion. The results show that at least a general equilibrium point exists in combination of Cournot and Bertrand. Numerical simulations are given to support the research results.http://dx.doi.org/10.1155/2020/3160658 |
| spellingShingle | Bingyuan Gao Yueping Du Equilibrium Further Studied for Combined System of Cournot and Bertrand: A Differential Approach Complexity |
| title | Equilibrium Further Studied for Combined System of Cournot and Bertrand: A Differential Approach |
| title_full | Equilibrium Further Studied for Combined System of Cournot and Bertrand: A Differential Approach |
| title_fullStr | Equilibrium Further Studied for Combined System of Cournot and Bertrand: A Differential Approach |
| title_full_unstemmed | Equilibrium Further Studied for Combined System of Cournot and Bertrand: A Differential Approach |
| title_short | Equilibrium Further Studied for Combined System of Cournot and Bertrand: A Differential Approach |
| title_sort | equilibrium further studied for combined system of cournot and bertrand a differential approach |
| url | http://dx.doi.org/10.1155/2020/3160658 |
| work_keys_str_mv | AT bingyuangao equilibriumfurtherstudiedforcombinedsystemofcournotandbertrandadifferentialapproach AT yuepingdu equilibriumfurtherstudiedforcombinedsystemofcournotandbertrandadifferentialapproach |