How Long to Read Complex Dynamics in a Nonlinear Duopoly Model with Heuristic Expectation Formation and Learning Behavior

How Long Does it Take to Read Complex Dynamics in a Nonlinear Duopoly Model with Heuristic Expectation Formation and Learning Behavior?

It takes the average reader to read Complex Dynamics in a Nonlinear Duopoly Model with Heuristic Expectation Formation and Learning Behavior by Sarah Mignot

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Description

We develop a nonlinear duopoly model in which the heuristic expectation formation and learning behavior of two boundedly rational firms may engender complex dynamics. Most importantly, we assume that the firms employ different forecasting models to predict the behavior of their opponent. Moreover, the firms learn by leaning more strongly on forecasting models that yield more precise predictions. An eight-dimensional nonlinear map drives the dynamics of our approach. We analytically derive the conditions under which its unique steady state is locally stable and numerically study its out-of-equilibrium behavior. In doing so, we detect multiple scenarios with coexisting attractors at which the firms' behavior yields distinctively different market outcomes.

How long is Complex Dynamics in a Nonlinear Duopoly Model with Heuristic Expectation Formation and Learning Behavior?

Complex Dynamics in a Nonlinear Duopoly Model with Heuristic Expectation Formation and Learning Behavior by Sarah Mignot is 0 pages long, and a total of 0 words.

This makes it 0% the length of the average book. It also has 0% more words than the average book.

How Long Does it Take to Read Complex Dynamics in a Nonlinear Duopoly Model with Heuristic Expectation Formation and Learning Behavior Aloud?

The average oral reading speed is 183 words per minute. This means it takes to read Complex Dynamics in a Nonlinear Duopoly Model with Heuristic Expectation Formation and Learning Behavior aloud.

What Reading Level is Complex Dynamics in a Nonlinear Duopoly Model with Heuristic Expectation Formation and Learning Behavior?

Complex Dynamics in a Nonlinear Duopoly Model with Heuristic Expectation Formation and Learning Behavior is suitable for students ages 2 and up.

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