A chaotic economic growth model and the agricultural share of an output
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In this paper, the authors set up a chaotic growth model of the gross domestic product that is capable of generating stable equilibria, cycles, or chaos depending on parameter values, and showed that a small, open economy can overcome this constraint by expanding its net exports.Citations
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Chaotic dynamics: theory and applications to economics, by Alfredo Medio in collaboration with Giampaolo Gallo. Pp 344. £35. 1993. ISBN 0-521-39488-0; (Accompanying Disk ISBN 0-521-42107-1. £30 MSDOS or Apple Mac). (Cambridge University Press)
TL;DR: This book introduces chaos and economics in a continuous-time model of inventory business cycles and applications to Economics, and discusses the role of software in this transformation.
Book
Chaotic Dynamics: Theory and Applications to Economics
TL;DR: In this article, the authors present a user's guide to chaos and economics. But they do not discuss the application of chaos in economics, only the analysis of experimental signals and the transition to chaos in a model of inventory business cycles.
Proceedings Article
Agricultural growth modeling based on nonlinear dynamical system
A. Sulaiman,M. Sadly +1 more
TL;DR: In this article, a coupled ordinary nonlinear differential equation is used to describe the economic growth model for agricultural system and the model can be solved by Runge-Kutta methods.
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Direction and Stability of Hopf Bifurcation in a Delayed Solow Model with Labor Demand
TL;DR: In this paper, a delayed model of mutual interactions between the economically active population and the economic growth is considered, where the main purpose is to investigate the direction and stability of the bifurcating branch resulting from the increase of delay.
Dinámica regresiva en la agricultura
TL;DR: In this article, the authors analyze the dynamics in a growth model based on agricultural participation in GDP and agricultural productivity and propose a new way of modeling regressive dynamics using inverse limits.
References
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Deterministic nonperiodic flow
TL;DR: In this paper, it was shown that nonperiodic solutions are ordinarily unstable with respect to small modifications, so that slightly differing initial states can evolve into considerably different states, and systems with bounded solutions are shown to possess bounded numerical solutions.
Journal ArticleDOI
Simple mathematical models with very complicated dynamics
Robert M. May,Robert M. May +1 more
TL;DR: This is an interpretive review of first-order difference equations, which can exhibit a surprising array of dynamical behaviour, from stable points, to a bifurcating hierarchy of stable cycles, to apparently random fluctuations.
Book
Nonlinear Dynamical Economics and Chaotic Motion
TL;DR: The behavior of nonlinear dynamical system can differ completely from that of linear dynamical systems as mentioned in this paper, and regular oscillatory motion as well as seemingly irregular motion can emerge in these systems without resort to exogenous influences or peculiar parameter values.
Journal ArticleDOI
A characterization of erratic dynamics in, the overlapping generations model
TL;DR: In this paper, the authors characterize and give examples of utility functions that generate erratic dynamics in the standard, deterministic, overlapping generations model and show that such trajectories are Pareto-efficient.
Journal ArticleDOI
Rational Choice and Erratic Behaviour
Jess Benhabib,Richard H. Day +1 more
TL;DR: In this article, it was shown that rational choice in a stationary environment can lead to erratic behavior when preferences depend on experience, i.e., choice sequences that do not converge to a long-run stationary value or to any periodic pattern.