Simulating heterogeneous corporate dynamics via the Rulkov map

Structural Change and Economic Dynamics. 2022. Vol. 61. P. 32–42.

Орландо Д.

This work deals with corporate dynamics as they emerge from mutual interaction between firms com-
peting on the market. As it is commonly observed, corporate dynamics may oscillate between periods
of fierce competition and calmer periods when companies settle in their niche. This is much like mu-
tual synchronization and chaos regularization of bursts in a group of chaotically bursting cells modelled
by the Rulkov map. We find that our framework can accommodate dynamic changes between multiple
equilibria, model skewness, and idiosyncrasy even in the case of homogeneous firms. These features al-
low the link with empirical findings in labour and industrial economics. This paper supports the idea that
nature is governed by simple laws from physics to engineering, from biology to economics, etc. For this
reason, a low-dimensional deterministic model like the Rulkov map may be applied to economics and
game theory for describing corporate dynamics.

Ключевые слова: Determinism in Economics, Rulkov map, Dynamic oligopoly, corporate dynamics