The Asymptotic Behavior in a Nonlinear Cobweb Model with Time Delays
We study the effects of production delays on the local as well as global dynamics of nonlinear cobweb models in a continuous-time framework. After reviewing a single delay model, we proceed to two models with two delays. When the two delays are used to form an expected price or feedback for price a...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Wiley
2015-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2015/312574 |
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| _version_ | 1849304810723999744 |
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| author | Akio Matsumoto Ferenc Szidarovszky |
| author_facet | Akio Matsumoto Ferenc Szidarovszky |
| author_sort | Akio Matsumoto |
| collection | DOAJ |
| description | We study the effects of production delays on the local as well as global
dynamics of nonlinear cobweb models in a continuous-time framework. After
reviewing a single delay model, we proceed to two models with two delays.
When the two delays are used to form an expected price or feedback for price
adjustment, we have a winding stability switching curve and in consequence
obtain repetition of stability losses and gains via Hopf bifurcation. When
the two delays are involved in two interrelated markets, we find that the
stability switching occurs on straight lines and complicated dynamics can
arise in unstable markets. |
| format | Article |
| id | doaj-art-3c99cf5719cd4bba8bb112c074d6750c |
| institution | Kabale University |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 2015-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-3c99cf5719cd4bba8bb112c074d6750c2025-08-20T03:55:37ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X2015-01-01201510.1155/2015/312574312574The Asymptotic Behavior in a Nonlinear Cobweb Model with Time DelaysAkio Matsumoto0Ferenc Szidarovszky1Department of Economics, International Center for Further Development of Dynamic Economic Research, Chuo University, 742-1 Higashi-Nakano, Hachioji, Tokyo 192-0393, JapanDepartment of Applied Mathematics, University of Pécs, Ifjúság Útja 6, Pécs 7624, HungaryWe study the effects of production delays on the local as well as global dynamics of nonlinear cobweb models in a continuous-time framework. After reviewing a single delay model, we proceed to two models with two delays. When the two delays are used to form an expected price or feedback for price adjustment, we have a winding stability switching curve and in consequence obtain repetition of stability losses and gains via Hopf bifurcation. When the two delays are involved in two interrelated markets, we find that the stability switching occurs on straight lines and complicated dynamics can arise in unstable markets.http://dx.doi.org/10.1155/2015/312574 |
| spellingShingle | Akio Matsumoto Ferenc Szidarovszky The Asymptotic Behavior in a Nonlinear Cobweb Model with Time Delays Discrete Dynamics in Nature and Society |
| title | The Asymptotic Behavior in a Nonlinear Cobweb Model with Time Delays |
| title_full | The Asymptotic Behavior in a Nonlinear Cobweb Model with Time Delays |
| title_fullStr | The Asymptotic Behavior in a Nonlinear Cobweb Model with Time Delays |
| title_full_unstemmed | The Asymptotic Behavior in a Nonlinear Cobweb Model with Time Delays |
| title_short | The Asymptotic Behavior in a Nonlinear Cobweb Model with Time Delays |
| title_sort | asymptotic behavior in a nonlinear cobweb model with time delays |
| url | http://dx.doi.org/10.1155/2015/312574 |
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