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Optimal Chaos, Nonlinearity and Feasibility Conditions.

This study constructs a class of dynamic models in which optimal paths are generated by nonlinear transition functions similar to a tent map. We provide a sufficient condition under which such a transition function is a chaotic map. This characterization provides a way to construct complex nonlinear dynamics in a broad range of dynamic economic models.
Year of publication:
1994
Authors: Nishimura, Kazuo ; Yano, Makoto
Published in:
Economic Theory. - Springer. - Vol. 4.1994, 5, p. 689-704
Publisher: Springer
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Type of publication: Article
Source:
Persistent link: https://www.econbiz.de/10005371014
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