Skip to main content

A Nonlinear Cobweb Model

  • Chapter
  • 81 Accesses

Part of the book series: Lecture Notes in Economics and Mathematical Systems ((LNE,volume 426))

Abstract

Increasing computational power in the last decade has led to an increasing interest in nonlinear dynamic systems, the behavior of which is qualitatively different from the motion observed in linear systems.

This is a preview of subscription content, log in via an institution.

Buying options

Chapter
USD   29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD   84.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD   109.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Learn about institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Bibliography

  1. W.J. Baumol and J. Benhabib [ 1989 ], Chaos: significance, mechanism, and economic applications, Journal of Economic Perspectives 3(1989)77105.

    Google Scholar 

  2. J. Benhabib and R. Day [ 1981 ], Rational choice and erratic behavior, Review of Economic Studies 48(1981)459–471.

    Google Scholar 

  3. P. Collet and J.P. Eckmann [ 1980 ], Iterated Maps on the Interval, Birkhäuser Boston, 1980.

    Google Scholar 

  4. C. Chiarella [ 1988 ], The cobweb model. Its instability and the onset of chaos, Economic Modelling (1988)377–384.

    Google Scholar 

  5. R. Day [ 1982 ], Irregular growth cycles, American Economic Review 72(1982)406–414.

    Google Scholar 

  6. R. Day [ 1983 ], The emergence of chaos from classical economic growth, Quartely Journal of Economics 97(1983)201–213.

    Google Scholar 

  7. R.L. Devaney [1989], An Introduction to Chaotic Dynamical Systems. Menlo Park, Ca. (Benjamin/Cummings,1989).

    Google Scholar 

  8. W. Gaertner [ 1987 ], Periodic and aperiodic consumer behavior, Applied Mathematics and Computation 22(1987)233–254.

    Google Scholar 

  9. J.-M. Grandmont [ 1985 ], On endogenous competitive business cycles, Econometrica 53(1985)995–1045.

    Google Scholar 

  10. J.-M. Grandmont [1986], Periodic and Aperiodic Behavior in discrete one-dimensional Dynamical Systems, Contributions to Mathematical Economics, Ed. W. Hildenbrand, A. Mas-Colell., Elsevier North-Holland, 1986, 225–246.

    Google Scholar 

  11. A. Hanau [ 1928 ], Die Prognose der Schweinepreise, Sonderheft 7/18, Vierteljahreshefte zur Konjunkturforschung, Berlin: Institut für Konjunkturforschung, 1928 /1930.

    Google Scholar 

  12. J.M. Holmes and R. Manning [ 1988 ], Memory and market stability, the case of the cobweb, Economics Letters 28(1988)1–7.

    Google Scholar 

  13. C.H. Hommes [1991], Adaptive Learning and Roads to Chaos, Economics Letters 36 (1991), 127–132.

    Article  Google Scholar 

  14. C.H. Hommes [1991], Chaotic Dynamics in Economic Models, Ph.D. Dissertation, University of Groningen (1991).

    Google Scholar 

  15. R.V. Jensen and R. Urban [ 1984 ], Chaotic price behavior in a nonlinear cobweb model, Economics Letters 15(1984)235–240.

    Google Scholar 

  16. T.-Y. Li and J. A. Yorke [ 1975 ], Period three implies chaos, American Mathematical Monthly 82(1975)985–992.

    Google Scholar 

  17. R.M. May [ 1976 ], Simple mathematical models with very complicated dynamics, Nature 261(1976)459–467.

    Google Scholar 

  18. M. Nerlove [ 1958 ], Adaptive exptectations and cobweb phenomena, Quarterly Journal of Economics 72(1958)227–240.

    Google Scholar 

  19. M.J. Pohjola [ 1981 ], Stable and chaotic growth: the dynamics of a discrete version of Goodwin’s growth cycle model, Zeitschrift für Nationalökonomie 41(1981)27–38.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Rights and permissions

Reprints and permissions

Copyright information

© 1995 Springer-Verlag Berlin Heidelberg

About this chapter

Cite this chapter

Finkenstädt, B. (1995). A Nonlinear Cobweb Model. In: Nonlinear Dynamics in Economics. Lecture Notes in Economics and Mathematical Systems, vol 426. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-46821-6_2

Download citation

  • DOI: https://doi.org/10.1007/978-3-642-46821-6_2

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-540-59374-4

  • Online ISBN: 978-3-642-46821-6

  • eBook Packages: Springer Book Archive

Publish with us

Policies and ethics