Study on Output Dynamic Competition Model and its Global Bifurcation

摘要

In this paper, the critical curve theory is used to study the global complexity of an output dynamic competition model with adaptive adjustment. Three forms of global bifurcations are investigated. Global bifurcations occurring at the boundary of feasible set make the structure of basins of attraction very complex. The economic significance of every global bifurcation is explained by regarding the evolution of feasible set of the system as the variation of players' living space. The analysis of global bifurcations is helpful for a decision maker to cope with such complexity and to avoid the collapse of the economic system.