Research on Complex Mechanism of Oligarchy Pricing Based on Price Repeated Game Model
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.
Helen Zhang, Gang Shen and David Jin
Z. H. Sun and J. H. Ma, "Research on Complex Mechanism of Oligarchy Pricing Based on Price Repeated Game Model", Advanced Materials Research, Vols. 219-220, pp. 578-581, 2011