. We examine the stability properties of both versions of the model and locate Hopf and transcritical bifurcation … boundaries. In an extended analysis, we investigate the existence of Andronov-Hopf bifurcation, branch point bifurcation, limit … point cycle bifurcation, and period doubling bifurcations. While these all are local bifurcations, the presence of global …

In systems theory, it is well known that the parameter spaces of dynamical systems are stratified into bifurcation … bifurcation boundaries is normal and should be expected from most dynamical systems, whether linear or nonlinear. Bifurcation … boundaries in parameter space are not evidence of model defect. While existence of such bifurcation boundaries is well known in …

through a period-doubling bifurcation. Moreover, by using numerical simulations (i.e., phase portraits, sensitive dependence …

heterogeneous expectations. We show that the Nash equilibrium can loose stability through a flip bifurcation when the consumer …

technologically determinant, intermediate bifurcation where growth shifts from being geographically to institutionally driven after …

-Nash equilibrium is more likely to be destabilised (through a flip bifurcation) than when firms maximise profits. Moreover, highly …