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Differential Equations, Bifurcations, and Chaos in Economics

Differential Equations, Bifurcations, and Chaos in Economics
Author: Wei-Bin Zhang
Publisher: World Scientific
Total Pages: 512
Release: 2005
Genre: Business & Economics
ISBN: 9812563334

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Although the application of differential equations to economics is a vast and vibrant area, the subject has not been systematically studied; it is often treated as a subsidiary part of mathematical economics textbooks. This book aims to fill that void by providing a unique blend of the theory of differential equations and their exciting applications to dynamic economics. Containing not just a comprehensive introduction to the applications of the theory of linear (and linearized) differential equations to economic analysis, the book also studies nonlinear dynamical systems, which have only been widely applied to economic analysis in recent years. It provides comprehensive coverage of the most important concepts and theorems in the theory of differential equations in a way that can be understood by any reader who has a basic knowledge of calculus and linear algebra. In addition to traditional applications of the theory to economic dynamics, the book includes many recent developments in different fields of economics.


Differential Equations, Bifurcations And Chaos In Economics

Differential Equations, Bifurcations And Chaos In Economics
Author: Wei-bin Zhang
Publisher: World Scientific Publishing Company
Total Pages: 510
Release: 2005-07-18
Genre: Business & Economics
ISBN: 9813106514

Download Differential Equations, Bifurcations And Chaos In Economics Book in PDF, ePub and Kindle

Although the application of differential equations to economics is a vast and vibrant area, the subject has not been systematically studied; it is often treated as a subsidiary part of mathematical economics textbooks. This book aims to fill that void by providing a unique blend of the theory of differential equations and their exciting applications to dynamic economics. Containing not just a comprehensive introduction to the applications of the theory of linear (and linearized) differential equations to economic analysis, the book also studies nonlinear dynamical systems, which have only been widely applied to economic analysis in recent years. It provides comprehensive coverage of the most important concepts and theorems in the theory of differential equations in a way that can be understood by any reader who has a basic knowledge of calculus and linear algebra. In addition to traditional applications of the theory to economic dynamics, the book includes many recent developments in different fields of economics.


Attractors, Bifurcations, and Chaos

Attractors, Bifurcations, and Chaos
Author: Tönu Puu
Publisher: Springer Science & Business Media
Total Pages: 513
Release: 2013-04-17
Genre: Business & Economics
ISBN: 3662040948

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Attractors, Bifurcations, & Chaos - now in its second edition - begins with an introduction to mathematical methods in modern nonlinear dynamics and deals with differential equations. Phenomena such as bifurcations and deterministic chaos are given considerable emphasis, both in the methodological part, and in the second part, containing various applications in economics and in regional science. Coexistence of attractors and the multiplicity of development paths in nonlinear systems are central topics. The applications focus on issues such as business cycles, oligopoly, interregional trade dynamics, and economic development theory.


Attractors, Bifurcations, & Chaos

Attractors, Bifurcations, & Chaos
Author: Tönu Puu
Publisher: Springer Science & Business Media
Total Pages: 556
Release: 2013-03-19
Genre: Mathematics
ISBN: 3540246991

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Attractors, Bifurcations, & Chaos - now in its second edition - begins with an introduction to mathematical methods in modern nonlinear dynamics and deals with differential equations. Phenomena such as bifurcations and deterministic chaos are given considerable emphasis, both in the methodological part, and in the second part, containing various applications in economics and in regional science. Coexistence of attractors and the multiplicity of development paths in nonlinear systems are central topics. The applications focus on issues such as business cycles, oligopoly, interregional trade dynamics, and economic development theory.


Differential Equations, Stability, and Chaos in Dynamic Economics

Differential Equations, Stability, and Chaos in Dynamic Economics
Author: William A. Brock
Publisher: North Holland
Total Pages: 414
Release: 1989
Genre: Business & Economics
ISBN:

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This is the first economics work of its kind offering the economist the opportunity to acquire new and important analytical tools. It introduces the reader to three advanced mathematical methods by presenting both their theoretical bases and their applications to a wide range of economic models. The mathematical methods presented are ordinary differential equations, stability techniques and chaotic dynamics. Topics such as existence, continuation of solutions, uniqueness, dependence on initial data and parameters, linear systems, stability of linear systems, two dimensional phase analysis, local and global stability, the stability manifold, stability of optimal control and empirical tests for chaotic dynamics are covered and their use in economic theory is illustrated in numerous applications. These applications include microeconomic dynamics, investment theory, macroeconomic policies, capital theory, business cycles, financial economics and many others. All chapters conclude with two sections on miscellaneous applications and exercises and further remarks and references. In total the reader will find a valuable guide to over 500 selected references that use differential equations, stability analysis and chaotic dynamics. Graduate students in economics with a special interest in economic theory, economic researchers and applied mathematicians will all benefit from this volume.


Replication of Chaos in Neural Networks, Economics and Physics

Replication of Chaos in Neural Networks, Economics and Physics
Author: Marat Akhmet
Publisher: Springer
Total Pages: 468
Release: 2015-08-13
Genre: Science
ISBN: 3662475006

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This book presents detailed descriptions of chaos for continuous-time systems. It is the first-ever book to consider chaos as an input for differential and hybrid equations. Chaotic sets and chaotic functions are used as inputs for systems with attractors: equilibrium points, cycles and tori. The findings strongly suggest that chaos theory can proceed from the theory of differential equations to a higher level than previously thought. The approach selected is conducive to the in-depth analysis of different types of chaos. The appearance of deterministic chaos in neural networks, economics and mechanical systems is discussed theoretically and supported by simulations. As such, the book offers a valuable resource for mathematicians, physicists, engineers and economists studying nonlinear chaotic dynamics.


Mathematical Models in Economics - Volume I

Mathematical Models in Economics - Volume I
Author: Wei-Bin Zhang
Publisher: EOLSS Publications
Total Pages: 542
Release: 2009-06-10
Genre: Economics
ISBN: 1848262280

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Mathematical Models in Economics is a component of Encyclopedia of Mathematical Sciences in which is part of the global Encyclopedia of Life Support Systems (EOLSS), an integrated compendium of twenty one Encyclopedias. This theme is organized into several different topics and introduces the applications of mathematics to economics. Mathematical economics has experienced rapid growth, generating many new academic fields associated with the development of mathematical theory and computer. Mathematics is the backbone of modern economics. It plays a basic role in creating ideas, constructing new theories, and empirically testing ideas and theories. Mathematics is now an integral part of economics. The main advances in modern economics are characterized by applying mathematics to various economic problems. Many of today's profound insights into economic problems could hardly be obtained without the help of mathematics. The concepts of equilibrium versus non-equilibrium, stability versus instability, and steady states versus chaos in the contemporary literature are difficult to explain without mathematics. The theme discusses on modern versions of some classical economic theories, taking account of balancing between significance of economic issues and mathematical techniques. These two volumes are aimed at the following five major target audiences: University and College students Educators, Professional practitioners, Research personnel and Policy analysts, managers, and decision makers and NGOs.


Chaotic Economic Dynamics

Chaotic Economic Dynamics
Author: Richard Murphey Goodwin
Publisher: Oxford University Press
Total Pages: 137
Release: 1990-11-01
Genre: Law
ISBN: 9780198283355

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The new science of chaos was discovered in the analysis of weather. According to the author, economics is equally unpredictable. This book explores the way in which chaos may be used for economic analysis. The author applies the new insights of chaotic dynamics to economics. Given the unpredictable behaviour of economies, this new discipline promises much enlightenment. It has always been assumed that the highly irregular behaviour of economic time series was the consequence of extra-economic disturbances such as political decisions, trade unions, the weather, and foreign trade. Now it has become clear that there can be patterns which explain this confusing behaviour. - ;Capitalism as creative, chaotic evolution by structural change; Classical dynamics: the corn economy; The von Neumann model as a chaotic attractor; Growing in short and long waves; The structural and dynamical instability of the modern economy; An analysis of high and low growth rates; Irregular waves of growth from structural innovation; Dynamical control of economic waves by fiscal policy; A fresh look at traditional cycle models; Chaotic aperiodic behaviour from forced oscillators; Further reading; Index -


Nonlinear Dynamics and Chaos

Nonlinear Dynamics and Chaos
Author: Steven H. Strogatz
Publisher: CRC Press
Total Pages: 532
Release: 2018-05-04
Genre: Mathematics
ISBN: 0429961111

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This textbook is aimed at newcomers to nonlinear dynamics and chaos, especially students taking a first course in the subject. The presentation stresses analytical methods, concrete examples, and geometric intuition. The theory is developed systematically, starting with first-order differential equations and their bifurcations, followed by phase plane analysis, limit cycles and their bifurcations, and culminating with the Lorenz equations, chaos, iterated maps, period doubling, renormalization, fractals, and strange attractors.


Differential Equations, Dynamical Systems, and an Introduction to Chaos

Differential Equations, Dynamical Systems, and an Introduction to Chaos
Author: Morris W. Hirsch
Publisher: Academic Press
Total Pages: 433
Release: 2004
Genre: Business & Economics
ISBN: 0123497035

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Thirty years in the making, this revised text by three of the world's leading mathematicians covers the dynamical aspects of ordinary differential equations. it explores the relations between dynamical systems and certain fields outside pure mathematics, and has become the standard textbook for graduate courses in this area. The Second Edition now brings students to the brink of contemporary research, starting from a background that includes only calculus and elementary linear algebra. The authors are tops in the field of advanced mathematics, including Steve Smale who is a recipient of.