On the influence of memory on complex dynamics of evolutionary oligopoly models

Abstract

In this paper, we propose a unitary formulation for evolutionary oligopoly models with memory. In particular, we consider behavioral rules that are stationary at the Nash equilibria so that we can study the stability of the oligopolistic model with memory with generic strategies for determining quantities. Although the introduction of memory does not affect the local stability properties of equilibria, we show how the presence of memory impacts the global dynamics of the system and how the question about the role of memory does not always provide a clear answer in terms of model complexity.