Discrete-time dynamics of an oligopoly model with differentiated goods

K. Andriopoulos, T. Bountis, S. Dimas

Research output: Chapter in Book/Report/Conference proceedingChapter

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 languageEnglish
Title of host publicationNonlinear Economic Dynamics
PublisherNova Science Publishers, Inc.
Pages277-286
Number of pages10
ISBN (Print)9781616687885
Publication statusPublished - Feb 1 2011

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

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