We analyze a class of models representing heterogeneous agents with adaptively rational rules. The models reduce to noninvertible maps of R-2. We investigate particular kinds of homoclinic bifurcations, related to the noninvertibility of the map. A first one, which leads to a strange repellor and basins of attraction with chaotic structure, is associated with simple attractors. A second one, the homoclinic bifurcation of the saddle fixed point, also associated with the foliation of the plane, causes the sudden transition to a chaotic attractor (with self-similar structure)

Foroni, I., Gardini, L. (2003). Homoclinic bifurcations in heterogeneous market models. CHAOS, SOLITONS AND FRACTALS, 15(4), 743-760 [10.1016/S0960-0779(02)00176-5].

Homoclinic bifurcations in heterogeneous market models

FORONI, ILARIA;
2003

Abstract

We analyze a class of models representing heterogeneous agents with adaptively rational rules. The models reduce to noninvertible maps of R-2. We investigate particular kinds of homoclinic bifurcations, related to the noninvertibility of the map. A first one, which leads to a strange repellor and basins of attraction with chaotic structure, is associated with simple attractors. A second one, the homoclinic bifurcation of the saddle fixed point, also associated with the foliation of the plane, causes the sudden transition to a chaotic attractor (with self-similar structure)
Articolo in rivista - Articolo scientifico
Dynamical system, Non invertible map, Bifurcation
English
743
760
18
Foroni, I., Gardini, L. (2003). Homoclinic bifurcations in heterogeneous market models. CHAOS, SOLITONS AND FRACTALS, 15(4), 743-760 [10.1016/S0960-0779(02)00176-5].
Foroni, I; Gardini, L
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10281/3633
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