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In this Chapter, we provide the definitions, notions and examples relevant for the analysis of the dynamical systems of interest to us in the remainder of this book. We start with with a description of dynamical systems and we provide a taxonomy. Then, we define continuous-time dynamical systems...
Persistent link: https://www.econbiz.de/10012648027
In this chapter, the Logistic Map is taken as the example demonstrating the generic stability properties of fixed points and limit cycles, in dependence of the strength of nonlinearity. To identify attracting periodic orbits, we use the Schwarz derivative. The chapter ends with an application of...
Persistent link: https://www.econbiz.de/10012648028
In this chapter, we outline the reasons why economics has been concerned with non-linear dynamics, with a particular focus on business cycles and on economic growth. Using varying perspectives, we discuss the salient historical mathematical approaches to the problem and the results that were...
Persistent link: https://www.econbiz.de/10012648040