Chaos Models in Economics

Details Chaos Models in Economics Chaos Models in Economics

2010-01-20

arxiv.org/abs/1001.3492v1

Journal of Computing, Vol. 2, Issue 1, January 2010

Nonlinear Sciences

Chaotic Dynamics

Scientific paper

The paper discusses the main ideas of the chaos theory and presents mainly the importance of the nonlinearities in the mathematical models. Chaos and order are apparently two opposite terms. The fact that in chaos can be found a certain precise symmetry (Feigenbaum numbers) is even more surprising. As an illustration of the ubiquity of chaos, three models among many other existing models that have chaotic features are presented here: the nonlinear feedback profit model, one model for the simulation of the exchange rate and one application of the chaos theory in the capital markets.

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