Modeling Economic Phenomenon with Elementary Catastrophes
AbstractIn the research to shape the company’s activity many types of approach have been crystallized. And so there exist models in which the company is considered a homogenous ensemble in report with its environment for work, the wagers being caught in ensemble as a production-work factor. From this perspective the company follows only to maximize the profit on short term. The changes occurred in the exogenous economic factors of the company have a decisive impact over its evolution. Catastrophes theory is concerned with sudden and discrete changes in system state variables which result from a slow, smooth and small change in one or more parameters. The underlying mathematics of catastrophe theory is essentially that of qualitative dynamics and particularly that of the theory of generic bifurcations of dynamical systems. The purpose of this paper is to present three applications of bifurcation and the catastrophe theory to study qualitative properties in economical dynamics.
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Bibliographic InfoArticle provided by Advances in Management in its journal Advances in Management.
Volume (Year): 2 (2009)
Issue (Month): 4 (April)
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