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].
Citazione: | 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]. | |
Tipo: | Articolo in rivista - Articolo scientifico | |
Carattere della pubblicazione: | Scientifica | |
Presenza di un coautore afferente ad Istituzioni straniere: | No | |
Titolo: | Homoclinic bifurcations in heterogeneous market models | |
Autori: | Foroni, I; Gardini, L | |
Autori: | ||
Data di pubblicazione: | 2003 | |
Lingua: | English | |
Rivista: | CHAOS, SOLITONS AND FRACTALS | |
Digital Object Identifier (DOI): | http://dx.doi.org/10.1016/S0960-0779(02)00176-5 | |
Appare nelle tipologie: | 01 - Articolo su rivista |