Departmental Bulletin Paper Delay Cournot Duopoly Models Revisited

Luca  GUERRINI  ,  松本 昭夫  ,  Ferenc  SZIDAROVSZKY

In considering economic dynamics, it has been known that time delays are inherent in economic phenomena and could be crucial sources for oscillatory behavior. The main aim of this study is to shed light on what effects the delays can generate. To this end, three different models of Cournot duopoly with different delays are build in a continuous time framework and their local and global dynamics are analytically and numerically examined. Three major fi…ndings are obtained. First, the stability switching conditions are analytically constructed. Second, it is numerically demonstrated that different length of the delays are sources for the birth of simple and complicated dynamics. Third, the delay for collecting information on the competitors ’output alone does not affect stability.

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