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COMPLEXITY OF A REAL ESTATE GAME MODEL WITH A NONLINEAR DEMAND FUNCTION

LINGLING MU

School of Management, Hebei University of Technology, Tianjin, Beichen, P. R. China

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PING LIU

School of Civil Engineer, Hebei University of Technology, Tianjin, Beichen, P. R. China

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YANYAN LI

School of Civil Engineer, Hebei University of Technology, Tianjin, Beichen, P. R. China

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JINZHU ZHANG

School of Architecture & Art Design, Hebei University of Technology, Tianjin, Beichen, P. R. China

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https://doi.org/10.1142/S021812741103043XCited by:3 (Source: Crossref)

Abstract

In this paper, a real estate game model with nonlinear demand function is proposed. And an analysis of the game's local stability is carried out. It is shown that the stability of Nash equilibrium point is lost through period-doubling bifurcation as some parameters are varied. With numerical simulations method, the results of bifurcation diagrams, maximal Lyapunov exponents and strange attractors are presented. It is found that the chaotic behavior of the model has been stabilized on the Nash equilibrium point by using of nonlinear feedback control method.

Keywords:

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