On the dynamics of a 4d local Cournot model

Abstract

The aim of this paper is to analyze the dynamics of a four dimensional system described in [Appl. Math. Let., 23, 836-838, (2010)], which generalizes the classical Cournot competition in a local way. In particular, by considering an aggregation parameter of production costs, we are able to describe for some ranges of the parameter: the periodic structure, the asymptotic dynamics and the chaotic properties of the system via the study of its topological entropy and the Li and Yorke chaos.