Stability and Hopf bifurcation for a competition and cooperation model of two enterprises with delay

In this paper, a retarded competition and cooperation model of two enterprises is investigated. We first prove that the existence of the unique positive equilibrium for the mentioned model. By choosing the delay s as a bifurcation parameter, we show that Hopf bifurcation at the positive equilibrium of the system can occur as s crosses some critical values. Further, using the normal form theory and center manifold theorem, we derive the explicit algorithm determining the direction of Hopf bifurcations and the stability of the bifurcating periodic solutions. Finally, some numerical simulations supporting our theoretical results and the economic meaning of model are also included. (C) 2014 Elsevier B. V. All rights reserved.