Research on Complex Mechanism of Oligarchy Pricing Based on Price Repeated Game Model

Zhi Hui Sun; Jun Hai Ma

doi:10.4028/www.scientific.net/AMR.219-220.578

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HomeAdvanced Materials ResearchAdvanced Materials Research Vols. 219-220Research on Complex Mechanism of Oligarchy Pricing...

Research on Complex Mechanism of Oligarchy Pricing Based on Price Repeated Game Model

Abstract:

Based on domestic and international study, this paper proposes an innovative Bertrand model and discusses its complex dynamics characteristics. Results show that the best choice for oligopoly is to reduce price adjustment speed and the satisfactory game result is to maintain equilibrium price. According to oligopolies’ game strategy, the paper uses parameters adjustment control method to make the chaotic state of price stable at the equilibrium state.

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Periodical:

Advanced Materials Research (Volumes 219-220)

Pages:

578-581

DOI:

https://doi.org/10.4028/www.scientific.net/AMR.219-220.578

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Online since:

March 2011

Authors:

Zhi Hui Sun, Jun Hai Ma

Keywords:

Bertrand Model, Complex Dynamics, Nonlinear Demand Function, Oligarchy

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References

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