Discrete-time dynamics of an oligopoly model with differentiated goods

K. Andriopoulos; T. Bountis; S. Dimas

Discrete-time dynamics of an oligopoly model with differentiated goods

K. Andriopoulos, T. Bountis, S. Dimas

Department of Mathematics

Research output: Chapter in Book/Report/Conference proceeding › Chapter

Abstract

We investigate the dynamics of a competitive market and examine the dependence of our results on the degree of product differentiation. The duopoly, employed to illustrate by way of example our findings, consists of a firm following bounded rational expectations and a firm with so-called 'naive' expectations. We present our conclusions by inspecting the graphs of the profits of each firm, as traced out by the evolution of the corresponding dynamical systems. Finally, we pose some suitable models to study the dynamics of a competitive oligopoly with heterogeneous products.

Original language	English
Title of host publication	Nonlinear Economic Dynamics
Publisher	Nova Science Publishers, Inc.
Pages	277-286
Number of pages	10
ISBN (Print)	9781616687885
Publication status	Published - Feb 1 2011

ASJC Scopus subject areas

Economics, Econometrics and Finance(all)

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