On modifications of Puu’s dynamical duopoly. (English) Zbl 0955.91045

Summary: Puu’s economic dynamical model is extended to the following cases: Bounded rationality, differentiated goods and bounded rationality with delay. It is shown that delay increases stability. Hence firms using bounded rationality with delay have a higher chance of reaching Nash equilibrium. Stability and instability (cycles and chaos) conditions for all these cases are determined.


91B54 Special types of economic markets (including Cournot, Bertrand)
91B52 Special types of economic equilibria
Full Text: DOI


This reference list is based on information provided by the publisher or from digital mathematics libraries. Its items are heuristically matched to zbMATH identifiers and may contain data conversion errors. It attempts to reflect the references listed in the original paper as accurately as possible without claiming the completeness or perfect precision of the matching.