scholarly journals Stability of equilibria for population games with uncertain parameters under bounded rationality

2021 ◽  
Vol 2021 (1) ◽  
Author(s):  
Wei Zhao ◽  
Hui Yang ◽  
Xicai Deng ◽  
Chongyi Zhong
Keyword(s):  
Fixed Point ◽  
Bounded Rationality ◽  
Uncertain Parameters ◽  
Stability Of Equilibria ◽  
Population Games ◽  
Existence And Stability ◽  
Payoff Functions ◽  
The Stability ◽  
Bounded Rationality Model ◽  
Rationality Model

AbstractUnder the assumption that the range of varying uncertain parameters is known, some results of existence and stability of equilibria for population games with uncertain parameters are investigated in this paper. On the basis of NS equilibria in classical noncooperative games, the concept of NS equilibria for population games with uncertain parameters is defined. Using some hypotheses about the continuity and convexity of payoff functions, the existence of NS equilibria in population games is also proved by Fan–Glicksberg fixed point theorem. Furthermore, we establish a bounded rationality model of population games with uncertain parameters, and draw the conclusions about the stability of NS equilibrium in this model by constructing the rationality function and studying its properties.

Stability and Bifurcation in an SI Epidemic Model with Additive Allee Effect and Time Delay

2021 ◽  
Vol 31 (04) ◽  
pp. 2150060
Author(s):  
Yangyang Lv ◽  
Lijuan Chen ◽  
Fengde Chen ◽  
Zhong Li
Keyword(s):  
Hopf Bifurcation ◽  
Time Delay ◽  
Epidemic Model ◽  
Existence And Uniqueness ◽  
Allee Effect ◽  
Stability Of Equilibria ◽  
Existence And Stability ◽  
Vital Effects ◽  
Strong Allee Effect ◽  
The Stability

In this paper, we consider an SI epidemic model incorporating additive Allee effect and time delay. The primary purpose of this paper is to study the dynamics of the above system. Firstly, for the model without time delay, we demonstrate the existence and stability of equilibria for three different cases, i.e. with weak Allee effect, with strong Allee effect, and in the critical case. We also investigate the existence and uniqueness of Hopf bifurcation and limit cycle. Secondly, for the model with time delay, the stability of equilibria and the existence of Hopf bifurcation are discussed. All the above show that both additive Allee effect and time delay have vital effects on the prevalence of the disease.

scholarly journals Nonlinear Complex Dynamics of Carbon Emission Reduction Cournot Game with Bounded Rationality

Complexity ◽  
2017 ◽  
Vol 2017 ◽  
pp. 1-10 ◽  
Author(s):  
LiuWei Zhao
Keyword(s):  
Bounded Rationality ◽  
Emission Reduction ◽  
Carbon Emission ◽  
Complex Dynamics ◽  
Dynamic Properties ◽  
Dynamic Adjustment ◽  
Carbon Emission Reduction ◽  
Cournot Game ◽  
Existence And Stability ◽  
The Stability

Based on the hypothesis of participant’s bounded rationality, our study formulated a novel Cournot duopoly game model of carbon emission reduction and, subsequently, analyzed the dynamic adjustment mechanism of emission reduction for enterprises. The existence and stability of the equilibrium solution of game are further discussed by the nonlinear dynamics theory. Our findings revealed that the parameters have key significance on the dynamic properties of the system. However, when the adjustment speed gets too large, the system loses the original stability and vividly demonstrates complex chaos phenomenon. Higher market prices in carbon trading have an outstanding impact on the stability of the system, which easily leads to system instability. Our study further controlled the chaos behavior of the power system by the delay feedback control. The results of the numerical analysis depict that the unstable behavior of the dynamic system can be controlled efficiently and quickly, in the quest to restore back a stable and orderly market. Our novel method is proved to have provided decision makers with effective solution to market instability.

scholarly journals Bounded Rationality of Generalized Abstract Fuzzy Economies

2014 ◽  
Vol 2014 ◽  
pp. 1-6
Author(s):  
Lei Wang ◽  
Yu Fu
Keyword(s):  
Bounded Rationality ◽  
Structural Stability ◽  
Nonlinear Scalarization ◽  
Bounded Rationality Model ◽  
Rationality Model

By using a nonlinear scalarization technique, the bounded rationality modelMfor generalized abstract fuzzy economies in finite continuous spaces is established. Furthermore, by using the modelM, some new theorems for structural stability and robustness to (λ,ϵ)-equilibria of generalized abstract fuzzy economies are proved.

scholarly journals ‘BUT CAN'T WE GET THE SAME THING WITH A STANDARD MODEL?’ RATIONALIZING BOUNDED-RATIONALITY MODELS

2011 ◽  
Vol 27 (1) ◽  
pp. 23-43 ◽  
Author(s):  
Ran Spiegler
Keyword(s):  
Standard Model ◽  
Rational Choice ◽  
Bounded Rationality ◽  
Burden Of Proof ◽  
Market Model ◽  
Test Case ◽  
Common Criticism ◽  
To Come ◽  
Bounded Rationality Model ◽  
Rationality Model

This paper discusses a common criticism of economic models that depart from the standard rational-choice paradigm - namely, that the phenomena addressed by such models can be ‘rationalized’ by some standard model. I criticize this criterion for evaluating bounded-rationality models. Using a market model with boundedly rational consumers due to Spiegler (2006a) as a test case, I show that even when it initially appears that a bounded-rationality model can be rationalized by a standard model, rationalizing models tend to come with unwarranted ‘extra baggage’. I conclude that we should impose a greater burden of proof on rationalizations that are offered in refutation of bounded-rationality models.

scholarly journals Learning by helping: a bounded rationality model of mentoring

2001 ◽  
Vol 45 (2) ◽  
pp. 113-132 ◽  
Author(s):  
Mahmood Arai ◽  
Antoine Billot ◽  
Joseph Lanfranchi
Keyword(s):  
Bounded Rationality ◽  
Bounded Rationality Model ◽  
Rationality Model
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