CONTINUOUS PRICING IN OLIGOPOLY

Citation
A. Krawiec et M. Szydlowski, CONTINUOUS PRICING IN OLIGOPOLY, Chaos, solitons and fractals, 7(12), 1996, pp. 2067-2073
Citations number
5
Categorie Soggetti
Mathematics,Mechanics,Engineering,"Physics, Applied
ISSN journal
09600779
Volume
7
Issue
12
Year of publication
1996
Pages
2067 - 2073
Database
ISI
SICI code
0960-0779(1996)7:12<2067:CPIO>2.0.ZU;2-C
Abstract
The continuous dynamics of competing firms in an oligopoly market is s tudied in terms of the Cournot theory. The Bogoyavlensky qualitative m ethods of multidimensional dynamical systems (the maximally nondegener ate compactification) are used in the analysis of the system dx(i)/dt = d pi(i)/dx(i), i = 1, ..., N where x(i) and pi(i)(x(1), ..., x(N)) i s output and profit of the ith firm, respectively. The exact solutions of this model are found. We show that the number of critical points a nd their character are preserved under changing of the system dimensio n N. The phase portrait with the Poincare compactification for the duo poly model is constructed. We also show the structural stability of th is model. Copyright (C) 1996 Elsevier Science Ltd.