Fractional Calculus in Chaos and Petroleum Markets

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This presentation delves into an educational exploration of the fractional-order Cournot model applied to the petroleum market, illustrating the integration of game theory and fractional calculus. It begins with foundational concepts, covering game theory basics and the significance of fractional calculus. The focus then shifts to the dynamics within the triopoly model, emphasizing stability, equilibrium, and chaos through a fractional-order approach. Numerical simulations are employed to...