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An Economy Can Have a Lorenz-Type Chaotic Attractor

School of Mathematics and Statistics, Huazhong University of Science and Technology, Wuhan 430074, P. R. China

https://doi.org/10.1142/S0218127421502102Cited by:0 (Source: Crossref)

Abstract

This paper presents a stylized construction of an economy with price dynamics described in tâtonnement process. Based on the well-known SMD theorem, it is shown that this model exhibits the same dynamical behavior as the famous Lorenz-type chaotic attractor.

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