THE EASE OF GENERATING CHAOTIC BEHAVIOR IN ECONOMICS

Authors
SAARI DG
Citation
Dg. Saari, THE EASE OF GENERATING CHAOTIC BEHAVIOR IN ECONOMICS, Chaos, solitons and fractals, 7(12), 1996, pp. 2267-2278
Citations number
18
Categorie Soggetti
Mathematics,Mechanics,Engineering,"Physics, Applied
Journal title
Chaos, solitons and fractals → ACNP
ISSN journal
09600779
Volume
7
Issue
12
Year of publication
1996
Pages
2267 - 2278
Database
ISI
SICI code
0960-0779(1996)7:12<2267:TEOGCB>2.0.ZU;2-#
Abstract
Supported by the wealth of models demonstrating chaotic behavior in ec onomics, it becomes appropriate to examine whether this phenomenon is restricted to concocted models or is central to economics. After showi ng why this behavior is prevalent, aspects of economics causing this b ehavior are identified. Surprisingly, the basic source of problems fro m choice theory also generate some of the random motion of economics. Copyright (C) 1996 Elsevier Science Ltd.