会议论文详细信息
International Workshop on Nonlinear Maps and Applications 2015 | |
Sudden transition from equilibrium stability to chaotic dynamics in a cautious t?tonnement model | |
Foroni, I.^1 ; Avellone, A.^1 ; Panchuk, A.^2 | |
Department of Statistica e Metodi Quantitativi, University of Milano-Bicocca, Italy^1 | |
Institute of Mathematics, NAS of Ukraine, 3 Tereshchenkivska str., Kyiv | |
01601, Ukraine^2 | |
关键词: Asymptotic behaviors; Border collision bifurcation; Chaotic behaviors; Chaotic dynamics; Equilibrium stability; Piecewise-smooth map; Price adjustment; Pure exchanges; | |
Others : https://iopscience.iop.org/article/10.1088/1742-6596/692/1/012005/pdf DOI : 10.1088/1742-6596/692/1/012005 |
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来源: IOP | |
【 摘 要 】
Discrete time price adjustment processes may fail to converge and may exhibit periodic or even chaotic behavior. To avoid large price changes, a version of the discrete time tâtonnement process for reaching an equilibrium in a pure exchange economy based on a cautious updating of the prices has been proposed two decades ago. This modification leads to a one dimensional bimodal piecewise smooth map, for which we show analytically that degenerate bifurcations and border collision bifurcations play a fundamental role for the asymptotic behavior of the model.
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