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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

Hopf Bifurcation Homoclinic Orbit Chaotic Motion Strange Attractor Closed Orbit 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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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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