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.

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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:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005371014