Tripoly Stackelberg game model: One leader versus two followers

Tripoly Stackelberg game model: One leader versus two followers This paper is devoted to introduce and study a Stackelberg game consisting of three competed firms. The three firms are classified as a leader which is the first firm and the other two firms are called the followers. A linear inverse demand function is used. In addition a quadratic cost based on an actual and announced quantities is adopted. Based on bounded rationality, a three-dimensional discrete dynamical system is constructed. For the system, the backward induction is used to solve the system and to get Nash equilibrium. The obtained results are shown that Nash equilibrium is unique and its stability is affected by the system’s parameters by which the system behaves chaotically due to bifurcation and chaos appeared. Some numerical experiments are performed to portrays such chaotic behavior. A control scheme is used to return the system back to its stability state and is supported by some simulations. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Applied Mathematics and Computation Elsevier

Tripoly Stackelberg game model: One leader versus two followers

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Publisher
Elsevier
Copyright
Copyright © 2018 Elsevier Inc.
ISSN
0096-3003
eISSN
1873-5649
D.O.I.
10.1016/j.amc.2018.01.041
Publisher site
See Article on Publisher Site

Abstract

This paper is devoted to introduce and study a Stackelberg game consisting of three competed firms. The three firms are classified as a leader which is the first firm and the other two firms are called the followers. A linear inverse demand function is used. In addition a quadratic cost based on an actual and announced quantities is adopted. Based on bounded rationality, a three-dimensional discrete dynamical system is constructed. For the system, the backward induction is used to solve the system and to get Nash equilibrium. The obtained results are shown that Nash equilibrium is unique and its stability is affected by the system’s parameters by which the system behaves chaotically due to bifurcation and chaos appeared. Some numerical experiments are performed to portrays such chaotic behavior. A control scheme is used to return the system back to its stability state and is supported by some simulations.

Journal

Applied Mathematics and ComputationElsevier

Published: Jul 1, 2018

References

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