The paper concerns a continuous model governed by a ODE system originated by a discrete duopoly model with bounded rationality, based on constant conjectural variation. The aim of the paper is to show (i) the existence of an absorbing set in the phase space; (ii) linear stability analysis of the critical points of the system; (iii) nonlinear, global asymptotic stability of equilibrium of constant conjectural variation.
On the nonlinear stability of a continuous duopoly model with constant conjectural variation
Isabella Torcicollo
2016
Abstract
The paper concerns a continuous model governed by a ODE system originated by a discrete duopoly model with bounded rationality, based on constant conjectural variation. The aim of the paper is to show (i) the existence of an absorbing set in the phase space; (ii) linear stability analysis of the critical points of the system; (iii) nonlinear, global asymptotic stability of equilibrium of constant conjectural variation.File in questo prodotto:
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