| 1. |
- Sushko, Iryna, et al.
(författare)
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Regular and chaotic growth in a Hicksian Floor/ceiling model
- 2010
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Ingår i: Journal of Economic Behavior and Organization. - : Elsevier. - 0167-2681 .- 1879-1751. ; 75:1, s. 77-94
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Tidskriftsartikel (refereegranskat)abstract
- In some previous papers the present authors reassembled the Hicksian trade cycle model in a new way. The floor was tied to depreciation on capital, itself the cumulative sum of past net investments, for which the principle of acceleration provided an explanation. Hence no alien elements were needed to include capital, and so close the system. The resulting model created a growth trend along with growth rate cycles, which could be periodic or quasiperiodic. In the current paper, the ceiling, using capital stock as a capacity limit for production, is added. It then turns out that pure growth no longer exists, and chaos and multistability become possible, which they were not in the previous model. A variety of bifurcation scenarios is explored, and a full understanding of the working of the four-piece, originally three-dimensional, piecewise smooth map, is attained, using a reduction to a one-dimensional return map.
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| 2. |
- Tramontana, Fabio, et al.
(författare)
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Global bifurcations in a piecewise-smooth Cournot duopoly game
- 2010
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Ingår i: Chaos, Solitons & Fractals. - Oxford : Pergamon-Elsevier Science Ltd. - 0960-0779 .- 1873-2887. ; 43:1-2, s. 15-24
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Tidskriftsartikel (refereegranskat)abstract
- The object of the work is to perform the global analysis of the Cournot duopoly model with isoelastic demand function and unit costs, presented in Puu [2]. The bifurcation of the unique Cournot fixed point is established, which is a resonant case of the Neimark-Sacker bifurcation. New properties associated with the introduction of horizontal branches are evidenced. These properties differ significantly when the constant value is zero or positive and small. The good behavior of the case with positive constant is proved, leading always to positive trajectories. Also when the Cournot fixed point is unstable, stable cycles of any period may exist. (C) 2010 Elsevier Ltd. All rights reserved.
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| 3. |
- Tramontana, Fabio, et al.
(författare)
-
Mathematical properties of a discontinuous Cournot-Stackelberg model
- 2011
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Ingår i: Chaos, Solitons & Fractals. - : Elsevier. - 0960-0779 .- 1873-2887. ; 44:1-3, s. 58-70
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Tidskriftsartikel (refereegranskat)abstract
- The object of this work is to perform the global analysis of a recent duopoly model which couples the two points of view of Cournot and Stackelberg [17,18]. The Cournot model is assumed with isoelastic demand function and unit costs. The coupling leads to discontinuous reaction functions, whose bifurcations, mainly border collision bifurcations, are investigated as well as the global structure of the basins of attraction. In particular, new properties are shown, associated with the introduction of horizontal branches, which differ significantly when the constant value is zero or positive and small. The good behavior of the model with positive constant is proved, leading to stable cycles of any period.
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