Chaotic Dynamics in Continuous-Time Economic Models

  • Hans-Walter Lorenz

Abstract

Most existing economic models dealing with the chaos property are discrete-time models and can be reduced to a one-dimensional dynamical system. The main reason for this concentration on one-dimensional systems can probably be found in the relative ease with which chaotic motion can be established in these systems and because the two-dimensional case is already much more difficult to handle. However, chaos does not occur only in discrete-time models, but may be a property of continuous-time models as well.

Keywords

Manifold Income Assure Eter lOri 

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Copyright information

© Springer-Verlag Berlin · Heidelberg 1993

Authors and Affiliations

  • Hans-Walter Lorenz
    • 1
  1. 1.Volkswirtschaftliches SeminarGeorg-August-Universität GöttingenGöttingenGermany

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