search query: @indexterm Non-linear models / total: 27
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| Author: | Nishimura, K. Yano, M. |
| Title: | Optimal chaos, nonlinearity and feasibility conditions |
| Journal: | Economic Theory
1994 : VOL. 4:5, p. 689-704 |
| Index terms: | CHAOS NON-LINEAR MODELS RESEARCH |
| Language: | eng |
| Abstract: | This study constructs a class of dynamic models in which optimal paths are generated by nonlinear transition functions similar to a tent map. The authors provide a sufficient condition under which such a transition function is a chaotic map. This characterisation provides a way to construct complex nonlinear dynamics in a broad range of dynamic economic models. This study presents a new characterization of chaotic optimal capital accumulation by which a chaotic optimal path can be constructed in a simple systematic manner. |
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