In this paper we consider a non linear discrete time Cournot duopoly game with isoelastic demand and where players have homogeneous adaptive expectations. The evolution of expected outputs over time is generated by the iteration of two-dimensional map and the long-run behavior is characterized by equilibrium points which are locally stable.
Buccellato, S.M., Tornatore, E. (2011). Equilibrium in a duopoly game with homogeneous adaptive expectations and isoelastic demand. BOLLETTINO DI MATEMATICA PURA E APPLICATA, IV, 25-32.
Equilibrium in a duopoly game with homogeneous adaptive expectations and isoelastic demand
TORNATORE, Elisabetta
2011-01-01
Abstract
In this paper we consider a non linear discrete time Cournot duopoly game with isoelastic demand and where players have homogeneous adaptive expectations. The evolution of expected outputs over time is generated by the iteration of two-dimensional map and the long-run behavior is characterized by equilibrium points which are locally stable.
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