Directory UMM :Data Elmu:jurnal:J-a:Journal Of Economic Dynamics And Control:Vol24.Issue5-7.Jul2000:
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Existing oligopoly models for nonrenewable resource markets and the & oil ' igopoly theory (e.g. Loury, 1986; Polansky, 1992) rest on the Nash open-loop equilibrium concept
six sections: Section I: Invited contributions; Section II: Heterogeneous agents; Section III: Local and global bifurcations in 2-D systems; Section IV: Macro dynamics; Section
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
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
Several implications for the empirical testing of the relationship between risk and return come from the dynamic nature of this study. In Section 4, we have shown that the intercept
for every initial resource stock a critical level of debt, below which debt may be steered to zero but above which debt tends to in " nity, no matter how the rate of extraction
