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- Title
Chaotic dynamics in Bertrand model with technological innovation.
- Authors
Fenglian Wang; Banglun Wang; Rongjian Xie
- Abstract
In this paper, the dynamics of a Bertrand duopoly game with technology innovation have been studied, which contains boundedly rational and naive players. They have been analyzed that the stability of the equilibrium point, the bifurcation and chaotic behavior of the dynamic system. It has been proved that technology innovation has played a very important role in the stability of Nash equilibrium point. Technology innovation can enlarge the stability region of the speed and control the chaos of the dynamic system effectively.
- Subjects
NASH equilibrium; TECHNOLOGICAL innovations; TURBULENCE; ECONOMIC competition; COMPUTER simulation; BIFURCATION theory
- Publication
Vibroengineering Procedia, 2017, Vol 15, p134
- ISSN
2345-0533
- Publication type
Article
- DOI
10.21595/vp.2017.19363