Chaotic Dynamics in the Agricultural Monopoly Model and Innovation

Tenth International Scientific-Business Conference LIMEN Leadership, Innovation, Management and Economics: Integrated Politics of Research

Vesna Jablanovic - University of Belgrade, Faculty of Agriculture, Nemanjina 6, 11081 Belgrade-Zemun, Serbia ORCID

Keywords:

DOI:

10.31410/LIMEN.2024.201

Abstract:

Innovation reduces the agricultural monopolist’s marginal cost. This paper creates a simple chaotic agricultural monopoly model with some specific assumptions. Namely, using a simple nonlinear demand function, nonlinear marginal cost function, the profit-maximizing condition and cost-reducing innovation, it is demonstrated that an agricultural monopoly can show chaotic behavior. The basic aim of this paper is to create chaotic agricultural monopoly model that is capable of generating stable equilibrium, cycles, or chaos.

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Tenth International Scientific-Business Conference LIMEN Leadership, Innovation, Management and Economics: Integrated Politics of Research - LIMEN 2024 - International Scientific-Business Conference – LIMEN 2024: Vol 10. Conference Proceedings , December 5, 2024

Conference Proceedings published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia

ISBN: 9788680194929 , ISSN: 26836149 , DOI: 10.31410/LIMEN.2024

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission.

Suggested Citation

Jablanovic, V. (2025). Chaotic Dynamics in the Agricultural Monopoly Model and Innovation. International Scientific-Business Conference – LIMEN 2024: Vol 10. Conference Proceedings (pp. 201-205). Association of Economists and Managers of the Balkans, Belgrade, Serbia. https://doi.org/10.31410/LIMEN.2024.201

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