Equilibria and their stability in an asymmetric duopoly model of Kopel

• Tác giả: Kongyan Chen, Xiaoliang Li
• Ngôn ngữ: eng
• Ký hiệu phân loại: 330 Economics
• Thông tin xuất bản: 2023
• Bộ sưu tập: Báo, Tạp chí
• ID: 196408

Tóm tắt

In this paper, we investigate the equilibria and their stability in an asymmetric duopoly model of Kopel by using several tools based on symbolic computations. We explore the possible positions of the equilibria in Kopel's model. We discuss the possibility of the existence of multiple positive equilibria and establish a necessary and sufficient condition for a given number of equilibria to exist. Furthermore, if the two duopolists adopt the best response reactions or homogeneous adaptive expectations, we establish rigorous conditions for the existence of distinct numbers of positive equilibria for the first time.