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| Author: | Rasmussen, D. R. Mosekilde, E. |
| Title: | Bifurcations and chaos in a generic management model. |
| Journal: | European Journal of Operational Research
1988 : APR, VOL. 35:1, p. 80-88 |
| Index terms: | MANAGEMENT SYSTEM RESOURCE ALLOCATION SIMULATION |
| Language: | eng |
| Abstract: | It is illustrated how period-doubling bifurcations and chaotic behavior can be internally generated in a typical management system. Due to feedback structure and inherent adjustment delays, managerial systems tend to oscillate in response to external disturbances. It is usually assumed that these oscillations are damped, that is, managerial systems have stable equilibrium points. The rationale for this assumption is that growing oscillations predetermine a system collapse and that consequently, only such systems have survived which have stable equilibria. |
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