Παρακαλώ χρησιμοποιήστε αυτό το αναγνωριστικό για να παραπέμψετε ή να δημιουργήσετε σύνδεσμο προς αυτό το τεκμήριο:
https://hdl.handle.net/123456789/1484| Τύπος: | Άρθρο σε επιστημονικό περιοδικό |
| Τίτλος: | Dynamics of a Bertrand duopoly game of the Greek oil market and application of the d-Backtest method |
| Συγγραφέας: | [EL] Σαραφόπουλος, Γεώργιος[EN] Sarafopoulos, Georges [EL] Δρυμπέτας, Ευάγγελος[EN] Drimbetas, Evangelos [EL] Παπαδόπουλος, Κοσμάς[EN] Papadopoulos, Kosmas [EL] Βεζέρης, Δημήτριος[EN] Vezeris, Dimitrios |
| Ημερομηνία: | 30/11/2021 |
| Περίληψη: | This work presents the complexity that emerges in a Bertrand duopoly between two companies in the Greek oil market, one of which is semi-public and the other is private. The game uses linear demand functions for differentiated products from the existing literature and asymmetric cost functions that arose after approaches using the published financial reports of the two oil companies (Hellenic Petroleum and Motor Oil). The game is based on the assumption of homogeneous players who are characterized by bounded rationality and follow an adjustment mechanism. The players’ decisions for each time period are expressed by two difference equations. A dynamical analysis of the game’s discrete dynamical system is made by finding the equilibrium positions and studying their stability. Numerical simulations include bifurcation diagrams and strange attractors. Lyapunov numbers’ graphs and sensitivity analysis in initial conditions prove the algebraic results and reveal the complexity and chaotic behavior of the system focusing on the two parameters k1 and k2 (speed of adjustment for each player). The d-Backtest method is applied through which an attempt is made to control the chaos that appears outside the stability space in order to return to the locally asymptotically stable Nash equilibrium for the system. |
| Γλώσσα: | Αγγλικά |
| Σελίδες: | 21 |
| DOI: | 10.4236/am.2021.1211070 |
| EISSN: | 2152-7393 |
| Θεματική κατηγορία: | [EL] Εφαρμοσμένα μαθηματικά[EN] Applied Mathematics |
| Λέξεις-κλειδιά: | Duopoly Game; Discrete Dynamical System; Nash Equilibrium; stability; Bifurcation; Chaotic Behavior; d-Backtest Method |
| Κάτοχος πνευματικών δικαιωμάτων: | Copyright © 2021 by authors and Scientific Research Publishing Inc. |
| Όροι και προϋποθέσεις δικαιωμάτων: | This work and the related PDF file are licensed under a Creative Commons Attribution 4.0 International License. |
| Ηλεκτρονική διεύθυνση του τεκμηρίου στον εκδότη: | https://www.scirp.org/journal/paperinformation.aspx?paperid=113558 |
| Ηλεκτρονική διεύθυνση περιοδικού: | https://www.scirp.org/journal/am/ https://www.scirp.org/journal/journalarticles?journalid=160 |
| Τίτλος πηγής δημοσίευσης: | Applied Mathematics |
| Τεύχος: | 11 |
| Τόμος: | 12 |
| Σελίδες τεκμηρίου (στην πηγή): | 1097-1117 |
| Σημειώσεις: | This research is carried out/funded in the context of the project “Nonlinear Dynamics in an Oligopoly Market: Chaotic Behavior, Complexity Control Using Machine Learning and Application in an Oligopoly of the Greek Market” (MIS 5049905) under the call for proposals “researchers’ support with an emphasis on young researchers—2nd cycle”. The project is co-financed by Greece and the European Union (European Social Fund—ESF) by the Operational Programme “Human Resources Development, Education and Lifelong Learning 2014-2020”. |
| Εμφανίζεται στις συλλογές: | Ερευνητικές ομάδες |
Αρχεία σε αυτό το τεκμήριο:
Το πλήρες κείμενο αυτού του τεκμηρίου δεν διατίθεται προς το παρόν από το αποθετήριο