We develop a continuous time model with heterogeneous fundamentalists, imitators, and discrete time delays. We show that nonlinear dynamic phenomena, such as coexistence of attractors and local and global bifurcations, occur due to the existence of a time gap in the process of adjustment of market prices.
Heterogeneous Fundamentalists in a Continuous Time Model with Delays / Luca, Gori; Luca, Guerrini; Sodini, Mauro. - In: DISCRETE DYNAMICS IN NATURE AND SOCIETY. - ISSN 1026-0226. - 2014:(2014), pp. 1-6. [10.1155/2014/959514]
Heterogeneous Fundamentalists in a Continuous Time Model with Delays
SODINI, MAURO
2014
Abstract
We develop a continuous time model with heterogeneous fundamentalists, imitators, and discrete time delays. We show that nonlinear dynamic phenomena, such as coexistence of attractors and local and global bifurcations, occur due to the existence of a time gap in the process of adjustment of market prices.File in questo prodotto:
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