Finance Discipline Group
UTS Business School
University of Technology, Sydney

Working Paper Series

Title:
The Birth of Limit Cycles in Cournot Oligopoly Models with Time Delays
Author(s): Carl Chiarella
Date of publication: September 1991
Working paper number: 11
Abstract:
We consider the fate of output in the Cournot oligopoly model when the equilibrium is locally unstable. We discuss types of nonlinearities which may be present to bound the motion and introduce time lags in production and information which may serve as bifurcation parameters. In the case of identical firms we apply the Hopf bifurcation theorem to determine conditions under which limit cycle motion is born.
Paper: Download (Format: PDF, Size: 145 Kb)
Comments:
Published as: Chiarella, C. 1991, "The Birth of Limit Cycles in Cournot Oligopoly Models with Time Delays", Pure Mathematics and Applications, 2(2-3), 81-92.
Known citations:

Chiarella, C. and Szidarovszky, F. 2005, "Cournot Oligopolies with Product Differentiation Under Uncertainty", Computers and Mathematics with Applications, 50(3-4), pp. 413-424.

Yen, J. C., 1992, Stability and Learning in Dynamic Market Systems, PhD Thesis, University of Arizona.