2011 Fiscal Year Final Research Report
Economic Dynamics with time delays and nonlinearities
| Project/Area Number |
21530172
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Economic theory
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| Research Institution | Chuo University |
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Principal Investigator |
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| Research Collaborator |
FERENC Szidarovszky University of Arizona, Department of Systems and Industrial, Engineering
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| Project Period (FY) |
2009 – 2011
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| Keywords | 経済動学 / 非線形動学 / カオス / 時間遅延 / 連続時間モデル / 分岐 |
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| Research Abstract |
Applying the nonlinear dynamic theory and using the delay differential equations, we reconsider not only classical business cycles models but the canonical microeconomic theory concerning monopoly and duopoly. It is analytically and numerically demonstrated that any nonlinear economic dynamic models can generate simple dynamics such as a limit cycles if the delays are continuously distributed and complex dynamics involving chaos if the delays are fixed.
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