We use center manifold theory to analyze a duopoly two-stage game based on R&D spillover, consisting of two delay differential equations. Explicit formulae determining the direction of Hopf bifurcations and stability of the bifurcating periodic solutions are obtained.

center manifold, R&D, time delay.

Received: December 15, 2021; Accepted: December 29, 2021; Published: January 31, 2022

How to cite this article: Luca Guerrini, Stability and direction of Hopf bifurcation of a model with R&D spillovers and price competition, Far East Journal of Applied Mathematics 112 (2022), 21-29. DOI: 10.17654/0972096022003

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