Center manifold theory for functional differential equations of mixed type (Q2641359)

Center manifolds are finite dimensional invariant manifolds, which contain all globally small solutions near an equilibrium. The authors prove the existence of center manifolds for functional differential equations of mixed type, that inherit the smoothness of the nonlinearity. As an application, a Hopf bifurcation result for such equations is provided. Moreover, the authors discuss an economic life-cycle model which gives rise to a functional differential equation of mixed type.