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Complex Systems Approach to Economic Dynamics

Abraham C.-L. Chian, "Complex Systems Approach to Economic Dynamics"
English | 2007 | ISBN: 3540397523 | PDF | pages: 108 | 6.6 mb


Statistical analysis of stock markets and foreign exchange markets has demonstrated the intermittent nature of economic time series. A nonlinear model of business cycles is able to simulate intermittency arising from order-chaos and chaos-chaos transitions. This monograph introduces new concepts of unstable periodic orbits and chaotic saddles, which are unstable structures embedded in a chaotic attractor and responsible for economic intermittency.
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