Nonlinear Dynamics and Multistability in a Cobweb Model
This paper studies the dynamic characteristics of an economic cobweb model whose producers adopt a gradient-based mechanism. The model’s producers are taken to be boundedly rational, and then the model is studied as a 1D and 2D discrete time dynamical system. Due to the lack of information in the ma...
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| Main Author: | |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2022-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2022/5778067 |
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