Copyright © 2009 Weizhuo Ji. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

A dynamic repeated game model has been established based on heterogeneous expectations in electric power triopoly. Theoretical analysis and numerical simulation show the complexity of this model; suppose that the producers make decisions with naive expectation and bounded rationality. The straight-line stabilization chaos control method was successfully applied to the dynamic repeated game model. The results have important practical value for the producers in the electric power oligopoly.