Nonlinear Dynamics in a Cournot Duopoly with Different Attitudes towards Strategic Uncertainty

Figure 3

Parameter set: 𝑎=7.2, 𝑏=0.22, 𝑐=0.4, and 𝛾=0.9. (a) Bifurcation diagram of map 𝑀₁ and the corresponding Lyapunov exponent (Λ) for 𝛼∈[0.2,0.43]. The blue line 𝑝=0 represents points in which the market price equals zero. (b) Chaotic attractor for 𝛼=0.41.

(a)

(b)