The Birth of Limit Cycles in Nonlinear Oligopolies with Continuously Distributed Information Lags

  • Carl Chiarella
  • Ferenc Szidarovszky
Part of the International Series in Operations Research & Management Science book series (ISOR, volume 46)

Abstract

The dynamic behavior of the output in nonlinear oligopolies is examined when the equilibrium is locally unstable. Continuously distributed time lags are assumed in obtaining information about rivals’ output as well as in obtaining or implementing information about the firms’ own output. The Hopf bifurcation theorem is used to find conditions under which limit cycle motion is born. In addition to the classical Cournot model, labor managed and rent seeking oligopolies are also investigated.

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Copyright information

© Springer Science + Business Media, Inc. 2005

Authors and Affiliations

  • Carl Chiarella
    • 1
  • Ferenc Szidarovszky
    • 2
  1. 1.School of Finance and EconomicsUniversity of Technology SydneyBroadwayAustralia
  2. 2.Department of Systems and Industrial EngineeringUniversity of Arizona TucsonArizonaUSA

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