@article{oai:chuo-u.repo.nii.ac.jp:00006200,
 author = {MATSUMOTO, Akio and SZIDAROVSKY, Ferenc},
 journal = {経済研究所 Discussion Paper, IERCU Discussion Paper},
 month = {May},
 note = {application/pdf, We call the intercept of the price function with the vertical axis the maximum price and the slope of theprice function the marginal price. In this paper it is assumed that a monopolistic firm has full information about the marginal price and its own cost function but is uncertain on the maximum price. However, by repeated interaction with the market, the obtained price observations give a basis for an adaptive learning process of the maximum price. It is also assumed that the price observations have fixed delays, so the learning process can be described by a delayed differential equation. In th cases of one or two delays, the asymptotic behavior of the resulting dynamic process is examined, stability conditions are derived. Three main results are demonstrated in the two delay learning process.  First, it is possible to stabilize the equilibrium which is unstable in the one delay model. Second, complex dynamics involving chaos, which is impossible in the one delay model, can emerge. Third, alternations of stability and instability　(i.e., stability switches) occure repeatedly.},
 title = {Lerning Monoplies with Delayed Feedbake on Price xpectations},
 volume = {223},
 year = {2014}
}