We investigate a population of individuals who play the Rock–Paper–Scissors (RPS) game. The players choose strategies not only by optimizing their payoffs, but also taking into account the popularity of the strategies. For the standard RPS game, we find an asymptotically stable polymorphism...

The topic of this paper is to show that the greater acceptance and intense use of complex nonlinear dynamics in macroeconomics makes sense only within the neoKeynesian tradition. An example is presented regarding the behavior of an open-economy two-sector growth model endowed with Keynesian...

This note shows, by means of two simple, three-strategy games, the existence of stable periodic orbits and of multiple, interior steady states in a smooth version of the Best-Response Dynamics, the Logit Dynamics. The main finding is that, unlike Replicator Dynamics, generic Hopf bifurcation and...

We present a model of optimal stock pollution control with distributed delays in the stock accumulation dynamics. Using generic functional forms and a distribution structure that covers a wide range of distributions, we solve analytically the complex dynamic system that arises from the...

We consider a one-sector Ramsey-type growth model with inelastic labor and learning-by-doing externalities based on cumulative gross investment (cumulative production of capital goods), which is assumed, in accordance with Arrow [4], to be a better index of experience than the average capital...

The Marshallian Macroeconomic Model in Zellner and Israilevich (2005) provides a novel way to examine sectoral dynamics through the introduction of a dynamic entry/exit equation in addition to the usual demand and supply functions found in models of this class. In this paper we examine the...

The Marshallian Macroeconomic Model in Zellner and Israilevich (2005) provides a novel way to examine sectoral dynamics through the introduction of a dynamic entry/exit equation in addition to the usual demand and supply functions found in models of this class. In this paper we examine the...

We discuss the existence of Hopf bifurcation, the dynamical stability breaking of the molecular concentrations of two generic biochemical reaction systems and their sensitivity to the changes of the parameters incorporated in the model equations. It is found that the oscillatory dynamics can be...

This study reconsiders a duopoly model with advertisement introduced earlier by Ahmed, Agiza and Hassan [1999]. It demonstrates three major findings. The first is that the model can be destabilized via either flip bifurcation or Hopf bifurcation. The second is that a half-pitchfork bifurcation...