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Multiple Attractors and Nonlinear Dynamics in an Overlapping Generations Model with Environment

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  • Ahmad Naimzada
  • Mauro Sodini

Abstract

This paper develops a one-sector productive overlapping generations model with environment where a CES technology is assumed. Relying on numerical and geometrical approaches, various dynamic properties of the proposed model are explored: the existence of the phenomenon of multistability or the coexistence of different attractors was demonstrated. Finally, we describe a nontypical global bifurcation which determines the appearance of an attracting cycle.

Suggested Citation

  • Ahmad Naimzada & Mauro Sodini, 2010. "Multiple Attractors and Nonlinear Dynamics in an Overlapping Generations Model with Environment," Discrete Dynamics in Nature and Society, Hindawi, vol. 2010, pages 1-11, August.
    • Handle: RePEc:hin:jnddns:503695
    DOI: 10.1155/2010/503695
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    Cited by:

    1. Andrea Caravaggio & Mauro Sodini, 2020. "Local Environmental Quality and Heterogeneity in an OLG Agent-Based Model with Network Externalities," Discussion Papers 2020/257, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
    2. Thomas Bassetti & Nikos Benos & Stelios Karagiannis, 2013. "CO 2 Emissions and Income Dynamics: What Does the Global Evidence Tell Us?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 54(1), pages 101-125, January.
    3. Mikhail Anufriev & Davide Radi & Fabio Tramontana, 2018. "Some reflections on past and future of nonlinear dynamics in economics and finance," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 41(2), pages 91-118, November.

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