Global Bifurcations in Duopoly when the Cournot Point is Destabilized through a Subcritical Neimark Bifuraction

An adaptive oligopoly model, where the demand function is isoelastic and the competitors operate under constant marginal costs, is considered. The Cournot equilibrium point then loses stability through a subcritical Neimark bifurcation. The present paper focuses some global bifurcations, which precede the Neimark bifurcation, and produce other attractors which coexist with the still attractive Cournot fixed point. Font: Minion (Adobe)  Working Paper :  ---  – ; Umeå University; - Umeå; Sweden Ph.: +--. Fax: +--. Email: regional.science@cerum.umu.se www.umu.se/cerum