A Dynamic Differential Game Pricing Model for the Natural Gas Triopoly Market Based on Innovation Drive

LI Shengquan; LONG Denggao; ZHANG Rong

doi:10.21656/1000-0887.390164

Volume 39 Issue 12

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LI Shengquan, LONG Denggao, ZHANG Rong. A Dynamic Differential Game Pricing Model for the Natural Gas Triopoly Market Based on Innovation Drive[J]. Applied Mathematics and Mechanics, 2018, 39(12): 1426-1442. doi: 10.21656/1000-0887.390164

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A Dynamic Differential Game Pricing Model for the Natural Gas Triopoly Market Based on Innovation Drive

doi: 10.21656/1000-0887.390164

¹Economics and Business Administration, Chongqing University, Chongqing 400030, P.R.China;²School of Social Sciences, Tsinghua University, Beijing 100083, P.R.China

Funds: The National Social Science Fund of China(16BGL136); The National Natural Science Foundation of China（71772019）

Received Date: 2018-06-14
Rev Recd Date: 2018-10-16
Publish Date: 2018-12-01

Abstract

Abstract

The triopoly market of natural gas manufacturers was studied, and a dynamic differential game pricing model was established based on the cost reduction resulting from knowledge innovation and the response lag in the price reduction decision. Model analyses indicate that, when the period of knowledge innovation remains constant, enterprises can reduce costs by adjusting the input and output intensities of knowledge innovation and implement price strategies accordingly. With the variation of the input and output intensities of knowledge innovation, the Hopf bifurcation and a single Nash equilibrium point will emerge in the system. With continuous increases of the input and output intensities, the system will reach and maintain an equilibrium; with continuous decreases of the input and output intensities, the system will yield a periodic solution, the range of the periodic motion will expand, and the market will fall into a chaotic competitive state. Numerical simulations confirm the theoretically derived results. This study provides a reference for the natural gas manufacturers within the triopoly market to effectively implement innovationdriven strategies.
- natural gas,
- oligopoly,
- knowledge innovation,
- pricing,
- dynamic game

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References(22)

References

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