Solution of oligopoly market equilibrium problem using modified newton method

TL;DR

This paper introduces a modified Newton method to efficiently solve the nonlinear equations representing oligopoly market equilibrium, demonstrating higher convergence order than traditional methods.

Contribution

The paper proposes a novel modified Newton method specifically designed for solving oligopoly market equilibrium problems with improved convergence properties.

Findings

The modified Newton method achieves higher order of convergence.

The method effectively solves nonlinear equations in oligopoly models.

Results show faster and more reliable convergence compared to standard methods.

Abstract

The paper aims to find the solution of oligopoly market equilibrium problem through system of nonlinear equations. We propose modified newton method to obtain the solution of system of nonlinear equations. We show that our proposed method has higher order of convergence. Keywords: System of nonlinear equations, modified newton method, oligopolistic market equilibrium problem.