Nonlinear oligopolies: Stability and bifurcations

✍ Scribed by Gian Italo Bischi, Carl Chiarella, Michael Kopel, Ferenc Szidarovszky (auth.)

• Publisher: Springer-Verlag Berlin Heidelberg
• Year: 2010
• Tongue: English
• Leaves: 340
• Edition: 1
• Category: Library

✦ Synopsis

The book focuses on the dynamics of nonlinear oligopoly models. It discusses the classical Cournot model with a large variety of demand and cost functions that illustrate the many different types of possible best response functions and it shows the existence of unique and multiple equilibria. Particular emphasis is placed on the influence of nonnegativity and capacity constraints. Dynamics are introduced under various assumptions for the adjustment process. An introduction to the analysis of global dynamics is given through some specific examples. The book also considers concave and general oligopolies and gives conditions for the local asymptotic stability of their equilibria, and it investigates global dynamics in some special cases. Other oligopolies examined include market share attraction games, labor-managed oligopolies, partially cooperating firms and models with intertemporal demand attraction. Local/global stability analyses are carried out for these models and the impact of constraints is discussed. The book contains a number of technical appendices that summarize techniques of global dynamics not easily accessible elsewhere.

✦ Table of Contents

Front Matter....Pages 1-12
The Classical Cournot Model....Pages 1-49
Concave Oligopolies....Pages 51-101
General Oligopolies....Pages 103-140
Modified and Extended Oligopolies....Pages 141-206
Oligopolies with Misspecified and Uncertain Price Functions, and Learning....Pages 207-270
Overview and Directions for Future Research....Pages 271-274
Back Matter....Pages 1-55

✦ Subjects

Economic Theory;Game Theory/Mathematical Methods;Game Theory, Economics, Social and Behav. Sciences;Microeconomics;Industrial Organization;Statistical Physics, Dynamical Systems and Complexity