A fractional-order difference Cournot duopoly game with long memory

• Tác giả: Yekyung Kwon, Wei Peng, Baogui Xin
• Ngôn ngữ: eng
• Ký hiệu phân loại: 003.56 Decision theory
• Thông tin xuất bản: 2019
• Bộ sưu tập: Metadata
• ID: 162700

Tóm tắt

We reconsider the Cournot duopoly problem in light of the theory for long memory. We introduce the Caputo fractional-order difference calculus to classical duopoly theory to propose a fractional-order discrete Cournot duopoly game model, which allows participants to make decisions while making full use of their historical information. Then we discuss Nash equilibria and local stability by using linear approximation. Finally, we detect the chaos of the model by employing a 0-1 test algorithm.