CHAOTIC PATTERNS IN COURNOT COMPETITION

A. van Witteloostuijn; A. van Lier

doi:10.1111/j.1467-999X.1990.tb00464.x

CHAOTIC PATTERNS IN COURNOT COMPETITION

A. van Witteloostuijn^*, A. van Lier

^*Corresponding author for this work

Research output: Contribution to Journal › Article › Academic › peer-review

Abstract

Chaos theory offers a new mode of analyzing the complexity of nonlinear (economic) dynamics. A growing list of applications is mainly focused on modeling macroeconomic (growth and business) cycles and dynamic (consumer's and firms') choice. This paper provides a nonlinear dynamic model of Cournot competition. The model improves upon Rand (1978) and Dana and Montrucchio (1986) by permitting monopoly output to be positive. The existence of chaotic regimes is proven and simulation experiments illustrate the implications.

Original language	English
Pages (from-to)	161-185
Number of pages	25
Journal	Metroeconomica
Volume	41
Issue number	2
DOIs	https://doi.org/10.1111/j.1467-999X.1990.tb00464.x
Publication status	Published - 1 Jan 1990
Externally published	Yes

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abstract = "Chaos theory offers a new mode of analyzing the complexity of nonlinear (economic) dynamics. A growing list of applications is mainly focused on modeling macroeconomic (growth and business) cycles and dynamic (consumer's and firms') choice. This paper provides a nonlinear dynamic model of Cournot competition. The model improves upon Rand (1978) and Dana and Montrucchio (1986) by permitting monopoly output to be positive. The existence of chaotic regimes is proven and simulation experiments illustrate the implications.",

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AB - Chaos theory offers a new mode of analyzing the complexity of nonlinear (economic) dynamics. A growing list of applications is mainly focused on modeling macroeconomic (growth and business) cycles and dynamic (consumer's and firms') choice. This paper provides a nonlinear dynamic model of Cournot competition. The model improves upon Rand (1978) and Dana and Montrucchio (1986) by permitting monopoly output to be positive. The existence of chaotic regimes is proven and simulation experiments illustrate the implications.

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CHAOTIC PATTERNS IN COURNOT COMPETITION

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