Adaptive learning and roads to chaos. The case of the cobweb

DOI10.1016/0165-1765(91)90176-LzbMath0729.90022MaRDI QIDQ806653

Cars H. Hommes

Publication date: 1991

Published in: Economics Letters (Search for Journal in Brave)

zbMATH Keywords

bifurcationsadaptive expectationscobweb modelchaotic price behaviour

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24) Economic growth models (91B62)

Related Items (24)

A comparative study of the stability of some fractional-order cobweb economic models ⋮ A cobweb model with local externalities ⋮ Price stabilization using buffer stocks ⋮ Local and global analysis of a speculative housing market with production lag ⋮ Dynamical regimes due to technological change in a microeconomical model of production ⋮ Adaptively Adjusted Beliefs About Prices in an Evolutive Muthian Cobweb Model ⋮ Partial equilibrium analysis in a noisy chaotic market ⋮ Adaptive and statistical expectations in a renewable resource market. ⋮ A continuous-time heterogeneous duopoly model with delays ⋮ Complex dynamics in an evolutionary general equilibrium model ⋮ Path Dependence in Models with Fading Memory or Adaptive Learning ⋮ Exponentially fading memory learning in forward-looking economic models. ⋮ Non-linearities and partial analysis ⋮ Real and financial interacting markets: a behavioral macro-model ⋮ Adaptive expectations coordination in an economy with heterogeneous agents ⋮ Error learning behaviour and stability revisited ⋮ Complex dynamics in a nonlinear cobweb model for real estate market ⋮ The reality game ⋮ An evolutive discrete exchange economy model with heterogeneous preferences ⋮ A cobweb model with gradient adjustment mechanism: nonlinear dynamics and multistability ⋮ STABILITY AND CYCLES IN A COBWEB MODEL WITH HETEROGENEOUS EXPECTATIONS ⋮ Memory, market stability and attractors coexistence in a nonlinear cobweb model ⋮ Caputo fractional continuous cobweb models ⋮ Equilibrium and Disequilibrium Dynamics in Cobweb Models with Time Delays

Cites Work

• Irregular cobweb dynamics
• Chaotic price behavior in a nonlinear cobweb model
• Chaotic dynamics in agricultural markets
• Memory and market stability: the case of the cobweb
• Application of nonlinear mapping theory to commodity price fluctuations
• Nonlinear dynamical economics and chaotic motion
• Period Three Implies Chaos

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