Naimzada, Ahmad; Ricchiuti, Giorgio - Dipartimento di Economia, Metodi Quantitativi e … - 2007
Developing a model in which heterogeneity arises among two groups of fundamentalists that follow gurus, we focus on the dynamic effects of increasing heterogeneity. We show that an increasing degree of heterogeneity leads firstly (i) to insurgence of a pitchfork bifurcation and, secondly (ii)...