An Economy Can Have a Lorenz-Type Chaotic Attractor
- 23 November 2021
- journal article
- research article
- Published by World Scientific Pub Co Pte Ltd in International Journal of Bifurcation and Chaos
- Vol. 31 (14)
Abstract
This paper presents a stylized construction of an economy with price dynamics described in tâtonnement process. Based on the well-known SMD theorem, it is shown that this model exhibits the same dynamical behavior as the famous Lorenz-type chaotic attractor.Keywords
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