Complex dynamics in a simple model of interdependent open economies

DOI10.1155/S1026022600000509MaRDI QIDQ5930222zbMATH OpenOpenAlexFDO

Authors Shahriar Yousefi, Yuri Maistrenko, Svitlana Popovych

Publication date 16 July 2002

Published in Discrete Dynamics in Nature and Society (Search for Journal in Brave)

Full work available at URL https://eudml.org/doc/121885

zbMATH Keywords

bifurcationcoexistence of attractorscompetitive two-market modelstability

Mathematics Subject Classification ID

Dynamical systems in optimization and economics (37N40) Special types of economic markets (including Cournot, Bertrand) (91B54)

Review text

Summary: Based on a simple two-market model, characterized by a demand link between competitive markets for goods, a system of coupled difference equations is used to represent the interdependent structure of a global economy. Relying on numerical and analytical approaches, various dynamic properties of the proposed model are explored. Among others, a general specification of the regions of stability of the equilibrium and main periodic cycles, the transition to chaos through torus destruction, chaotic synchronization, and the coexistence of different types of attractors in parameter space are described. Typical bifurcation processes are illustrated.

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Cited in

(12)

• Dynamical approach to complex regional economic growth based on Keynesian model for China
• Simple model for the dynamics of correlations in the evolution of economic entities under varying economic conditions
• Analysis of global bifurcations in a market share attraction model
• Coupled dynamics with an external system and application to international finance
• Coupled chaotic fluctuations in a model of international trade and innovation: some preliminary results
• THE COMPLEX DYNAMICS OF THE SIMPLE RICARDIAN SYSTEM: A NOTE
• Entrainment in a disaggregated economic long wave model
• A topological proof of chaos for two nonlinear heterogeneous triopoly game models
• Coupling the Yoccoz–Birkeland population model with price dynamics: chaotic livestock commodities market cycles
• Complicated dynamics of an interacting economic model
• Proving chaos for a system of coupled logistic maps: a topological approach
• Chaotic dynamics in three dimensions: a topological proof for a triopoly game model

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