No label defined (Q4389643)

This is a review paper which outlines some of the mathematics of chaos and complex behaviour in dynamical systems. It is essentially concerned with discrete dynamical systems. Concepts and theorems are stated, without proofs, in particular, statements of results of Li-Yorke and Sarkovskii. Some typical concrete numerical examples of discrete and continuous dynamical systems where chaotic behaviour is possible are provided. The paper also provides statements of measures of instability and complex behaviour and, in particular, discusses generalizations of the notion of eigenvalues to nonlinear maps, Lyapunov exponents, sensitive dependence on initial conditions, invariant sets and measures, correlation integral, limit capacity etc. It goes on to present in some detail examples in economics, such as overlapping generations model and optimal growth model, where chaotic behaviour may arise. It ends with a discussion of test statistics developed by the authors, and others, for detecting chaotic behaviour, which have been applied to time series data in economics and finance. For the entire collection see [Zbl 0889.90001].