Author(s)

Mohammed Fathy Elettreby, Daoud Suleiman Mashat, Ashraf Mobarez Zenkour

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In this paper, we proposed a general form of a multi-team Bertrand game. Then, we studied a two-team Bertrand game, each team consists of two firms, with heterogeneous strategies among teams and homogeneous strategies among players. We find the equilibrium solutions and the conditions of their local stability. Numerical simulations were used to illustrate the complex behaviour of the proposed model, such as period doubling bifurcation and chaos. Finally, we used the feedback control method to control the model.

Bertrand Game, Non-convex Dynamical Multi-team Game, Incomplete Information Dynamical System, Marginal Profit Method, Nash Equilibrium

M. Elettreby, D. Mashat and A. Zenkour, "Multi-Team Bertrand Game with Heterogeneous Players," Applied Mathematics, Vol. 2 No. 9, 2011, pp. 1182-1190. doi: 10.4236/am.2011.29164.