A Further Study of a Nonsmooth Dynamical Economic Model
A macro-economic model of business cycles, the so-called Hicksian multiplier-accelerator model with floor-roof limits to investments, is proposed by Samuelson 14, modified by Hicks 10 and further studied in depth in 15, 8, 16, 2, 13, etc. By extending ranges of parameters of the model studied in 15 while ignoring their physical implications, this paper further investigates complicated nonlinear phenomena inside this model. It is argued in 15 that chaotic behavior is excluded in this model; however, it is shown in this paper that, by extending system parameter ranges, chaotic behavior does occur.
non-smooth dynamics chaos bifurcations non-convexity
Guofeng Zhang Yuming Shi Huamin Xu Chenglin Wen
College of Electronic Engineering, University of Electronic Science and Technology of China, Chengdu Department of Mathematics, Shandong University, Jinan, Shandong, P. R. China 250100 School of Automation, Hangzhou Dianzi University, Hangzhou, Zhejiang China 310018 School of Automation, Hangzhou Dianzi University, Hangzhou, Zhejiang China 310018.
国际会议
第四届亚太地区混沌控制与同步会议(The Fourth Asia-Pacific Workshop on Chaos Control and Synchronization)
哈尔滨
英文
218-226
2007-08-24(万方平台首次上网日期,不代表论文的发表时间)