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Fractional economic models based on market equilibrium in the frame of different type kernels

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  • Acay, Bahar
  • Bas, Erdal
  • Abdeljawad, Thabet

Abstract

Overall objectives of this paper are to investigate and analyze certain problems in economics by means of non-local fractional operators involving Caputo, Caputo–Fabrizio in the sense of Caputo (CFC), Caputo type Atangana–Baleanu (ABC) and ABC with generalized Mittag-Leffler kernel. By convention, above mentioned fractional operators refer to those beyond traditional differentiation and integration when applying to the economic models. Thereby, these fractional operators improve the comprehension of supply and demand and their interactions with price of commodity under the assumption that market is in equilibrium. Moreover, in order to observe the controversial subjects in market more detailed, we compare the results obtained by supporting with the simulation analysis.

Suggested Citation

  • Acay, Bahar & Bas, Erdal & Abdeljawad, Thabet, 2020. "Fractional economic models based on market equilibrium in the frame of different type kernels," Chaos, Solitons & Fractals, Elsevier, vol. 130(C).
    • Handle: RePEc:eee:chsofr:v:130:y:2020:i:c:s0960077919303844
    DOI: 10.1016/j.chaos.2019.109438
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    References listed on IDEAS

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    1. Duc, Tran Minh & Van Hoa, Ngo, 2021. "Stabilization of impulsive fractional-order dynamic systems involving the Caputo fractional derivative of variable-order via a linear feedback controller," Chaos, Solitons & Fractals, Elsevier, vol. 153(P2).
    2. Acay, Bahar & Inc, Mustafa, 2021. "Fractional modeling of temperature dynamics of a building with singular kernels," Chaos, Solitons & Fractals, Elsevier, vol. 142(C).
    3. Bazán Navarro, Ciro Eduardo & Benazic Tomé, Renato Mario, 2024. "Qualitative behavior in a fractional order IS-LM-AS macroeconomic model with stability analysis," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 217(C), pages 425-443.
    4. Begum, Razia & Tunç, Osman & Khan, Hasib & Gulzar, Haseena & Khan, Aziz, 2021. "A fractional order Zika virus model with Mittag–Leffler kernel," Chaos, Solitons & Fractals, Elsevier, vol. 146(C).
    5. Yusuf, Abdullahi & Acay, Bahar & Mustapha, Umar Tasiu & Inc, Mustafa & Baleanu, Dumitru, 2021. "Mathematical modeling of pine wilt disease with Caputo fractional operator," Chaos, Solitons & Fractals, Elsevier, vol. 143(C).
    6. Mashayekhi, S. & Sedaghat, S., 2021. "Fractional model of stem cell population dynamics," Chaos, Solitons & Fractals, Elsevier, vol. 146(C).

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