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Abstract
The purpose of this paper is to investigate the dynamics of a remanufacturing duopoly game model with heterogeneous players and different competition strategies, assuming that the original equipment manufacturer has bounded rationality and aims to maximize profit, and the third-party remanufacturer has an adaptive nature and aims to maximize share in order to get a certain profit. The model behaviours are discussed mainly from the point of view of stability, bifurcations and chaos. By utilizing Jury's stability criteria, the Cournot-Nash equilibrium's asymptotic stability is examined. We found that under certain conditions, when consumer willingness to pay was taken as a bifurcation parameter, the system undergoes a flip bifurcation and a Neimark-Sacker bifurcation. Lyapunov exponents are used to demonstrate that the system becomes chaotic through each of the previous bifurcations.
Disclosure statement
No potential conflict of interest was reported by the author(s).