Inherent Complexity of Repeated Game Model in Electric Power Duopoly

One dynamic repeated Cournot model has been established in electric power duopoly market.Considering the wheeling cost,two circumstances,i.e.definiteness and randomness of initial power output,are analyzed under the conditions that demand function and the cost function are all nonlinear.In these circumstances,the electric power producers modulate output compatibly and obtain the maximium profit,respectively.The complex character displaying by this model,such as fractal,chaos and density cycling are concluded by using the chaotic dynamics theory.This method of combining the definiteness and randomness has important value for electric power producer.