Related papers: Chaos Models in Economics
Chaos and nonlinear economic dynamics are addressed for a quantum coupled map lattice model of an artificial economy, with quantized supply and demand equilibrium conditions. The measure theoretic properties and the patterns that emerge in…
Chaotic systems which are due to nonlinearity have attracted a great concern in the current world and chaotic models. Systems for a wide range of operation conditions have their application in almost all branches of engineering and science.…
Economy is demanding new models, able to understand and predict the evolution of markets. To this respect, Econophysics is offering models of markets as complex systems, such as the gas-like model, able to predict money distributions…
Existence theory in economics is usually in real domains such as the findings of chaotic trajectories in models of economic growth, tatonnement, or overlapping generations models. Computational examples, however, sometimes converge rapidly…
Nowadays, chaos theory and nonlinear dynamics lack research focuses. Here we mention a few major open problems: 1. an effective description of chaos and turbulence, 2. rough dependence on initial data, 3. arrow of time, 4. the paradox of…
In recent years, the topic of car-following has experimented an increased importance in traffic engineering and safety research. This has become a very interesting topic because of the development of driverless cars…
This article examines the subtle relationship between chaos and randomness, two concepts that, although they refer to seemingly unpredictable phenomenon, are based on fundamentally different principles. Chaos manifests in deterministic…
Dynamical networks are important models for the behaviour of complex systems, modelling physical, biological and societal systems, including the brain, food webs, epidemic disease in populations, power grids and many other. Such dynamical…
Dynamical chaos is a term that encompasses a wide range of nonlinear phenomena such as turbulence, neuronal avalanches, weather patterns, and many others. However, despite much work in the field of chaos, its fundamental physical origin…
The problem of Turing pattern formation has attracted much attention in nonlinear science as well as physics, chemistry and biology. So far all Turing patterns have been observed in stationary and oscillatory media only. In this letter we…
We describe some highlights in the theory of chaos, that started with Poincare (1899). Generic systems have both ordered and chaotic domains. Chaos appears mainly near un- stable periodic orbits. Large chaotic domains are due to resonance…
We propose an uncertainty principle for chaos, focusing on two key characteristics: alpha unpredictability and Lorenz sensitivity. This principle outlines a limitation on the relationship between two infinite sequences that underpin these…
The scope of this teaching package is to make a brief introduction to some notions and properties of chaotic systems. We first make a brief introduction to chaos in general and then we show some important properties of chaotic systems using…
Nonlinear dynamics (``chaos theory'') and quantum mechanics are two of the scientific triumphs of the 20th century. The former lies at the heart of the modern interdisciplinary approach to science, whereas the latter has revolutionized…
We show that chaos is present in the symmetric two-block Burridge-Knopoff model for earthquakes. This is in contrast with previous numerical studies, but in agreement with experimental results. In this system, we have found a rich dynamical…
This paper considers the ideal gas-like model of trading markets, where each individual is identified as a gas molecule that interacts with others trading in elastic or money-conservative collisions. Traditionally this model introduces…
In this paper, we study two standard (Keynesian) dynamic macroeconomic models (one is piecewise linear and the other is nonlinear). Our purpose is twofold: (1)~For each model, we give a complete characterisation for the existence of a…
Stable chaos is a generalization of the chaotic behaviour exhibited by cellular automata to continuous-variable systems and it owes its name to an underlying irregular and yet linearly stable dynamics. In this review we discuss analogies…
In this paper we calibrate chaotic models for interest rates to market data using a polynomial-exponential parametrization for the chaos coefficients. We identify a subclass of one-variable models that allow us to introduce complexity from…
Deterministic chaos is phenomenon from nonlinear dynamics and it belongs to greatest advances of twentieth-century science. Chaotic behavior appears apart of mathematical equations also in wide range in observable nature, so as in there…