Dynamics of a Cournot Duopoly Game with a Generalized Bounded Rationality

Abstract

In this paper, the dynamics of Cournot duopoly game with a generalized bounded rationality is considered. The fractional bounded rationality of the Cournot duopoly game is introduced. The conditions of local stability analysis of equilibrium points of the game are derived. The effect of fractional marginal profit on the game is investigated. The complex dynamics behaviors of the game are discussed by numerical computation when parameters are varied.