A Monopoly Bertrand Game under Uncertainty
M. F. Elettreby *
Department of Mathematics, Faculty of Science, King Khaled University, Abha 9004, Saudi Arabia and Department of Mathematics, Faculty of Science, Mansoura University, Mansoura 35516, Egypt.
*Author to whom correspondence should be addressed.
Abstract
In this paper, a bounded rational monopolist Bertrand model is proposed using a specific demand function. Therefore, some stability analysis is carried out to describe some complex dynamic phenomena such as bifurcation and chaos. Also, an approach for risk in the model which based on multi-objective method is studied.
Keywords: Bertrand, uncertainty, risk, equilibrium, asymptotic stability.