論文

査読有り
2003年8月

Stability, chaos and multiple attractors: a single agent makes a difference

JOURNAL OF ECONOMIC DYNAMICS & CONTROL
  • T Onozaki
  • ,
  • G Sieg
  • ,
  • M Yokoo

27
10
開始ページ
1917
終了ページ
1938
記述言語
英語
掲載種別
研究論文(学術雑誌)
DOI
10.1016/S0165-1889(02)00090-8
出版者・発行元
ELSEVIER SCIENCE BV

This paper provides an example in which a slight behavioral heterogeneity may fundamentally change the dynamical properties of a nonlinear cobweb market with a quadratic cost function and an isoelastic demand function. We consider two types of producers; cautious adapters and naive optimizers. In a market of naive optimizers a single cautious, adapter stabilizes the otherwise exploding market. In a market of cautious adapters a single naive optimizer may destabilize the market; without him there exists at most one periodic attractor in the market but with him there may appear many (and even infinitely many) coexisting periodic attractors. (C) 2002 Elsevier Science B.V. All rights reserved.

リンク情報
DOI
https://doi.org/10.1016/S0165-1889(02)00090-8
Web of Science
https://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcAuth=JSTA_CEL&SrcApp=J_Gate_JST&DestLinkType=FullRecord&KeyUT=WOS:000182743000010&DestApp=WOS_CPL
URL
https://www.sciencedirect.com/science/article/pii/S0165188902000908
ID情報
  • DOI : 10.1016/S0165-1889(02)00090-8
  • ISSN : 0165-1889
  • Web of Science ID : WOS:000182743000010

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