Nonlinear Dynamics of Cournot Duopoly Game: When One Firm Considers Social Welfare

In this paper, we study the competition between two firms whose outputs are quantities. The first firm considers maximization of its profit while the second firm considers maximization of its social welfare. Adopting a gradient-based mechanism, we introduce a nonlinear discrete dynamic map which is used to describe the dynamics of this game. For this map, the fixed points are calculated and their stability conditions are analyzed. This includes investigating some attracting set and chaotic behaviors for the complex dynamics of the map. We have also investigated the types of the preimages that characterize the phase plane of the map and conclude that the game’s map is noninvertible of type Z4−Z2

Neimark-Sacker Bifurcation and Chaos Control in a Fractional-Order Plant-Herbivore Model

This work is related to dynamics of a discrete-time 3-dimensional plant-herbivore model. We investigate existence and uniqueness of positive equilibrium and parametric conditions for local asymptotic stability of positive equilibrium point of this model. Moreover, it is also proved that the system undergoes Neimark-Sacker bifurcation for positive equilibrium with the help of an explicit criterion for Neimark-Sacker bifurcation. The chaos control in the model is discussed through implementation of two feedback control strategies, that is, pole-placement technique and hybrid control methodology. Finally, numerical simulations are provided to illustrate theoretical results. These results of numerical simulations demonstrate chaotic long-term behavior over a broad range of parameters. The computation of the maximum Lyapunov exponents confirms the presence of chaotic behavior in the model

Neimark-Sacker Bifurcation and Chaos Control in a Fractional-Order Plant-Herbivore Model

This work is related to dynamics of a discrete-time 3-dimensional plant-herbivore model. We investigate existence and uniqueness of positive equilibrium and parametric conditions for local asymptotic stability of positive equilibrium point of this model. Moreover, it is also proved that the system undergoes Neimark-Sacker bifurcation for positive equilibrium with the help of an explicit criterion for Neimark-Sacker bifurcation. The chaos control in the model is discussed through implementation of two feedback control strategies, that is, pole-placement technique and hybrid control methodology. Finally, numerical simulations are provided to illustrate theoretical results. These results of numerical simulations demonstrate chaotic long-term behavior over a broad range of parameters. The computation of the maximum Lyapunov exponents confirms the presence of chaotic behavior in the model

Dynamics of a Heterogeneous Constraint Profit Maximization Duopoly Model Based on an Isoelastic Demand

A Cournot duopoly game is a two-firm market where the aim is to maximize profits. It is rational for every company to maximize its profits with minimal sales constraints. As a consequence, a model of constrained profit maximization (CPM) occurs when a business needs to be increased with profit minimal sales constraints. The CPM model, in which companies maximize profits under the minimum sales constraints, is an alternative to the profit maximization model. The current study constructs a duopoly game based on an isoelastic demand and homogeneous goods with heterogeneous strategies. In the event of sales constraint and no sales constraint, the local stability conditions of the Cournot equilibrium are derived. The initial results show that the duopoly model would be easier to stabilize if firms were to impose certain minimum sales constraints. Two routes to chaos are analyzed by numerical simulation using 2D bifurcation diagram, one of which is period doubling bifurcation and the other is Neimark–Sacker bifurcation. Four forms of coexistence of attractors are demonstrated by the basin of attraction, which is the coexistence of periodic attractors and chaotic attractors, the coexistence of periodic attractors and quasiperiodic attractors, and the coexistence of several chaotic attractors. Our findings show that the effect of game parameters on stability depends on the rules of expectations and restriction of sales by firms

Chaotic Dynamics and Synchronization of Cournot Duopoly Game with a Logarithmic Demand Function

This paper analyzed the dynamics of Cournot duopoly game with a logarithmic demand function. We assumed that the owners of both firms played with bounded rationality expectation. The existence of equilibrium points and its local stability of the output game are investigated. The complex dynamics, bifurcations and chaos are displayed by numerical experiments. Numerical methods showed that the higher values of speeds of adjustment act on the Nash equilibrium that becomes unstable through period doubling bifurcations, more complex attractors are created around it. The chaotic behavior of the game has been controlled by using feedback control method. we investigated the mechanisms that lead the firms to behave in the same way in the long run (synchronization phenomena)

Dynamic Analysis and Circuit Implementation of a New 4D Lorenz-Type Hyperchaotic System

This paper attempts to further extend the results of dynamical analysis carried out on a recent 4D Lorenz-type hyperchaotic system while exploring new analytical results concerns its local and global dynamics. In particular, the equilibrium points of the system along with solution’s continuous dependence on initial conditions are examined. Then, a detailed Z2 symmetrical Bogdanov-Takens bifurcation analysis of the hyperchaotic system is performed. Also, the possible first integrals and global invariant surfaces which exist in system’s phase space are analytically found. Theoretical results reveal the rich dynamics and the complexity of system behavior. Finally, numerical simulations and a proposed circuit implementation of the hyperchaotic system are provided to validate the present analytical study of the system