Multi-Team Bertrand Game with Heterogeneous Players

In this paper, we proposed a general form of a multi-team Bertrand game. Then, we studied a two-team Bertrand game, each team consists of two firms, with heterogeneous strategies among teams and homogeneous strategies among players. We find the equilibrium solutions and the conditions of their local stability. Numerical simulations were used to illustrate the complex behaviour of the proposed model, such as period doubling bifurcation and chaos. Finally, we used the feedback control method to control the model.

Conflicts of Interest

The authors declare no conflicts of interest.

Cite this paper

M. Elettreby, D. Mashat and A. Zenkour, "Multi-Team Bertrand Game with Heterogeneous Players," Applied Mathematics, Vol. 2 No. 9, 2011, pp. 1182-1190. doi: 10.4236/am.2011.29164.

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