Discrete Dynamics in Nature and Society
Volume 2009 (2009), Article ID 469564, 8 pages
doi:10.1155/2009/469564

Chaos and control of game model based on heterogeneous expectations in electric power triopoly

Abstract

A dynamic repeated game model has been established based on heterogeneous expectations in electric power triopoly. Theoretical analysis and numerical simulation show the complexity of this model; suppose that the producers make decisions with naive expectation and bounded rationality. The straight-line stabilization chaos control method was successfully applied to the dynamic repeated game model. The results have important practical value for the producers in the electric power oligopoly.