Dynamics Analysis of a Class of Delayed Economic Model
This investigation aims at developing a methodology to establish stability and bifurcation dynamics generated by a class of delayed economic model, whose state variable is described by the scalar delay differential equation of the form d2p(t)/dt2=−μδ(p(t))(dp(t)/dt)−μbp(t−τ1) −μ(a0p(t−τ2)/(a1+p(t−τ2...
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| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2013-01-01
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| Series: | Abstract and Applied Analysis |
| Online Access: | http://dx.doi.org/10.1155/2013/962738 |
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| _version_ | 1832558971028766720 |
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| author | Chuangxia Huang Changlin Peng Xiaohong Chen Fenghua Wen |
| author_facet | Chuangxia Huang Changlin Peng Xiaohong Chen Fenghua Wen |
| author_sort | Chuangxia Huang |
| collection | DOAJ |
| description | This investigation aims at developing a methodology to establish stability and bifurcation dynamics generated by a class of delayed economic model, whose state variable is described by the scalar delay differential equation of the form d2p(t)/dt2=−μδ(p(t))(dp(t)/dt)−μbp(t−τ1) −μ(a0p(t−τ2)/(a1+p(t−τ2)))+μ(d0−g0). At appropriate parameter values, linear stability and Hopf bifurcation including its direction and stability of the economic model are obtained. The main tools to obtain our results
are the normal form method and the center manifold theory introduced by Hassard. Simulations show that the theoretically predicted values are in excellent agreement with the numerically observed behavior. Our results extend and complement some earlier publications. |
| format | Article |
| id | doaj-art-ebc19bf535cb40be8c2f4803f82a6ed7 |
| institution | Kabale University |
| issn | 1085-3375 1687-0409 |
| language | English |
| publishDate | 2013-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Abstract and Applied Analysis |
| spelling | doaj-art-ebc19bf535cb40be8c2f4803f82a6ed72025-02-03T01:31:09ZengWileyAbstract and Applied Analysis1085-33751687-04092013-01-01201310.1155/2013/962738962738Dynamics Analysis of a Class of Delayed Economic ModelChuangxia Huang0Changlin Peng1Xiaohong Chen2Fenghua Wen3College of Mathematics and Computing Science, Changsha University of Science and Technology, Changsha, Hunan 410114, ChinaCollege of Mathematics and Computing Science, Changsha University of Science and Technology, Changsha, Hunan 410114, ChinaSchool of Business, Central South University, Changsha, Hunan 410083, ChinaSchool of Business, Central South University, Changsha, Hunan 410083, ChinaThis investigation aims at developing a methodology to establish stability and bifurcation dynamics generated by a class of delayed economic model, whose state variable is described by the scalar delay differential equation of the form d2p(t)/dt2=−μδ(p(t))(dp(t)/dt)−μbp(t−τ1) −μ(a0p(t−τ2)/(a1+p(t−τ2)))+μ(d0−g0). At appropriate parameter values, linear stability and Hopf bifurcation including its direction and stability of the economic model are obtained. The main tools to obtain our results are the normal form method and the center manifold theory introduced by Hassard. Simulations show that the theoretically predicted values are in excellent agreement with the numerically observed behavior. Our results extend and complement some earlier publications.http://dx.doi.org/10.1155/2013/962738 |
| spellingShingle | Chuangxia Huang Changlin Peng Xiaohong Chen Fenghua Wen Dynamics Analysis of a Class of Delayed Economic Model Abstract and Applied Analysis |
| title | Dynamics Analysis of a Class of Delayed Economic Model |
| title_full | Dynamics Analysis of a Class of Delayed Economic Model |
| title_fullStr | Dynamics Analysis of a Class of Delayed Economic Model |
| title_full_unstemmed | Dynamics Analysis of a Class of Delayed Economic Model |
| title_short | Dynamics Analysis of a Class of Delayed Economic Model |
| title_sort | dynamics analysis of a class of delayed economic model |
| url | http://dx.doi.org/10.1155/2013/962738 |
| work_keys_str_mv | AT chuangxiahuang dynamicsanalysisofaclassofdelayedeconomicmodel AT changlinpeng dynamicsanalysisofaclassofdelayedeconomicmodel AT xiaohongchen dynamicsanalysisofaclassofdelayedeconomicmodel AT fenghuawen dynamicsanalysisofaclassofdelayedeconomicmodel |