Directory UMM :Data Elmu:jurnal:J-a:Journal Of Economic Dynamics And Control:Vol24.Issue5-7.Jul2000:
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This model tries to combine both a well de " ned economic structure in the market trading mechanisms, along with inductive learning using a classi " er- based system..
Using the BDS and the NEGM tests, and 15-s, 1-min and 5-min returns (from September 1 to November 30, 1991), they reject the hypothesis of independence in favor of a nonlinear
Marimon and Sunder (1993) examine a related experimental OLG economy in which the money supply is allowed to grow over time, and " nd that observed price paths tend to converge
Bifurcation diagrams plotting long-run behavior versus intensity of choice b for (a) constant beliefs about conditional variances of returns, (b) time varying beliefs about
In this paper we show how the global dynamics of an economic model can be analyzed by the study of some global bifurcations that change the shape of the chaotic attractors and
In Section 5.4 we have seen that when the symmetric equilibrium price vector of a ta ( tonnement process with both a re # ectional and a rotational symmetry loses stability
Using a singular perturbation technique, we have derived conditions under which topological chaos occurs due to transverse homoclinic orbits to the golden rule steady state when
In a pure exchange overlapping generations model we obtain that to have a cycle and a chaotic dynamics under bounded rationality learning we need a coe $ cient of risk aversion for
