Dynamics Analysis of a Class of Delayed Economic Model

Autor:	Xiaohong Chen, Changlin Peng, Chuangxia Huang, Fenghua Wen
Rok vydání:	2013
Předmět:	Hopf bifurcation State variable Article Subject lcsh:Mathematics Applied Mathematics Scalar (mathematics) Delay differential equation lcsh:QA1-939 symbols.namesake Control theory symbols Applied mathematics Economic model Analysis Bifurcation Center manifold Linear stability Mathematics
Zdroj:	Abstract and Applied Analysis, Vol 2013 (2013) Abstr. Appl. Anal.
ISSN:	1687-0409 1085-3375
Popis:	This investigation aims at developing a methodology to establish stability and bifurcation dynamics generated by a class of delayed economic model, whose state variable is described by the scalar delay differential equation of the formd2p(t)/dt2=−μδ(p(t))(dp(t)/dt)−μbp(t−τ1) −μ(a0p(t−τ2)/(a1+p(t−τ2)))+μ(d0−g0). At appropriate parameter values, linear stability and Hopf bifurcation including its direction and stability of the economic model are obtained. The main tools to obtain our results are the normal form method and the center manifold theory introduced by Hassard. Simulations show that the theoretically predicted values are in excellent agreement with the numerically observed behavior. Our results extend and complement some earlier publications.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::77b3cc8ba55e983cf7ebf34f4bed896b https://doi.org/10.1155/2013/962738 Zobrazit plný text záznamu Plný text ve formátu PDF