Complex Dynamics in a Nonlinear Cobweb Model for Real Estate Market
نویسندگان
چکیده
منابع مشابه
Research Article Complex Dynamics in a Nonlinear Cobweb Model for Real Estate Market
We establish a nonlinear real estate model based on cobweb theory, where the demand function and supply function are quadratic. The stability conditions of the equilibrium are discussed. We demonstrate that as some parameters varied, the stability of Nash equilibrium is lost through period-doubling bifurcation. The chaotic features are justified numerically via computing maximal Lyapunov expone...
متن کاملComplex Dynamics in a Nonlinear Cobweb Model for Real Estate Market
We establish a nonlinear real estate model based on cobweb theory, where the demand function and supply function are quadratic. The stability conditions of the equilibrium are discussed. We demonstrate that as some parameters varied, the stability of Nash equilibrium is lost through period-doubling bifurcation. The chaotic features are justified numerically via computing maximal Lyapunov expone...
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ژورنال
عنوان ژورنال: Discrete Dynamics in Nature and Society
سال: 2007
ISSN: 1026-0226,1607-887X
DOI: 10.1155/2007/29207