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Persistent link: https://www.econbiz.de/10010439172
with bounded rationality. Chaos, Solitons and Fractals 39, 2048–2055), by introducing sound microeconomic foundations. We … study how an increase in the relative degree of product differentiation affects the stability of the unique positive … on initial conditions and Lyapunov exponents), we find that a “quasi-periodic” route to chaos and a large gamma of …
Persistent link: https://www.econbiz.de/10009293635
with bounded rationality. Chaos, Solitons and Fractals 39, 2048–2055), by introducing sound microeconomic foundations. We … study how an increase in the relative degree of product differentiation affects the stability of the unique positive … on initial conditions and Lyapunov exponents), we find that a “quasi-periodic” route to chaos and a large gamma of …
Persistent link: https://www.econbiz.de/10009294609
periodicity and deterministic chaos can also occur as the managers’ bonus increases. …
Persistent link: https://www.econbiz.de/10009323940
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This paper deals with the analytical and graphical representation of the bifurcations appearing from the adjustment dynamics of a 2- player Cournot duopoly, proposed by Puu (1997). We establish admissibility conditions on the initial state of the adjustment dynamics and visualize the dynamics in...
Persistent link: https://www.econbiz.de/10005135005
We analyze the role of consumer expectations in a Hotelling model of price competition when products exhibit network effects. Expectations can be strong (stubborn), weak (price-sensitive) or partially stubborn (a mix of weak and strong). As a rule, the price-sensitivity of demand declines when...
Persistent link: https://www.econbiz.de/10008736175
In spatial competition firms are likely to be uncertain about demand when launching products either because of shifting demographics or of asymmetric information about preferences. This paper considers two types of prices: those set on prior information and flexible prices which adjust across...
Persistent link: https://www.econbiz.de/10013128129