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Transactions: WSEAS TRANSACTIONS ON MATHEMATICS
Transactions ID Number: 53-743
Full Name: Junling zhang
Position: Doctor (Researcher)
Age: ON
Sex: Female
Address: College of Management Economic£¬Tianjin University £¬Tianjin 300072£¬China
Country: CHINA
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E-mail address: mjhtju@yahoo.com.cn
Other E-mails: lzqsly@126.com
Title of the Paper: Research on the Delayed Decision and its Application Based on Price Game of Insurance Market
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Number of paper pages: 11
Abstract: In the oligopoly insurance market, we established the dynamic price game models supposing that all the oligarches make decisions with expectation and bounded rationality without delay, one of the oligarches makes the delayed decision with one period and two periods, respectively. We mainly analyzed the stable points and their stability of the dynamic system with two-period delayed decision, and made computer simulations for the system stability under different decision rules and the complexity such as the bifurcations, chaos and so on. The numerical simulation results showed that, the delayed decision can not change the system¡¯s Nash equilibrium point, however it can improve the system¡¯s stability; the changes of delayed period and weights of delay variables will make the system¡¯s stability area change correspondingly; when the company make decisions with delay, they should consider the introducing time. Because the proper delayed periods and weights of variable!
s will obviously improve his competition advantages.
Keywords: oligarchic insurance market, price game, delayed decision, complexity analysis
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