Inverse limits and statistical properties for chaotic implicitly defined economic models (Q439295): Difference between revisions

The author considers 1-dimensional and 2-dimensional overlapping generations models, a cash-in-advance model, heterogeneous markets and a cobweb model with adaptive adjustment. The dynamics and ergodic properties of these models, which present chaotic behavior on certain invariant sets, are studied. The main approach is to study the inverse limit spaces of certain chaotic invariant fractal sets and their metric, ergodic and stability properties. One of the results is that these limits are stable under perturbations for those models. For the employed utility functions the author gives two ways to rank them: in terms of their average values and using equilibrium measures of these functions.