Bifurcation and Chaos in Some Economic Models Cover Image

Bifurkacije i haos u nekom ekonomskim modelima
Bifurcation and Chaos in Some Economic Models

Author(s): Senada Kalabušić, Esmir Pilav
Subject(s): Economy
Published by: Ekonomski fakultet u Sarajevu
Keywords: bifurcation; difference equation; equilibrium; chaos; periodic point; stability

Summary/Abstract: In this paper we discuss two economic models: interaction of economic and population growth, and model of demand and supply. We demonstrate bifuraction and chaos in these two models. The existence of chaos implies that no one can precisely know what will happen in society in the future, except that it will be changing.

  • Issue Year: 2009
  • Issue No: 29
  • Page Range: 495-511
  • Page Count: 17
  • Language: Bosnian