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Complexity of triopoly price game in Chinese cold rolled steel market

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Abstract

This paper considers a Bertrand model based on nonlinear demand functions which are closer to reality and different from previous studies. We apply the model into Chinese cold rolled steel market and study game process of triopoly. By using the theory of bifurcations of dynamical systems, local stable region of Nash equilibrium point is obtained. Simulations show complex dynamical behaviors of the system. The results illustrate that altering the relevant parameters of system can affect the stability of Nash equilibrium point and cause chaos to occur, and the complex dynamical behaviors will disappear by parameters control method. The results have an important theoretical and practical significance to Chinese cold rolled steel market.

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Authors and Affiliations

  1. College of Management and Economics, Tianjin University, Tianjin, 300072, China

    Zhihui Sun & Junhai Ma

  2. Department of Mathematics, Tianjin University of Finance and Economics, Tianjin, 300222, China

    Zhihui Sun

Authors
  1. Zhihui Sun
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  2. Junhai Ma
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Correspondence to Junhai Ma.

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Sun, Z., Ma, J. Complexity of triopoly price game in Chinese cold rolled steel market. Nonlinear Dyn 67, 2001–2008 (2012). https://doi.org/10.1007/s11071-011-0124-1

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  • DOI: https://doi.org/10.1007/s11071-011-0124-1

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