Complex dynamic properties of Cournot duopoly games with convex and log-concave demand function

A Cournot duopoly game is proposed where the interdependence between firms depends on convex and log-concave demand function. In this paper, a model of two rational firms that are in competition and produce homogeneous commodities is introduced. The equilibrium points of this model are obtained and their dynamical characteristics such as stability, bifurcation and chaos are investigated. Furthermore, a multi-team Cournot game is introduced. Through simulation the dynamical characteristics of the equilibrium points of this game are illustrated. (C) 2013 Elsevier B.V. All rights reserved.