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Stabilization and Chaos Control of an Economic Model via a Time-Delayed Feedback Scheme

Author

Listed:
  • Yang Hu

    (Reading Academy, Nanjing University of Information Science and Technology, Nanjing 210044, China
    These authors contributed equally to this work.)

  • Guangping Hu

    (School of Mathematics and Statistics, Nanjing University of Information Science and Technology, Nanjing 210044, China
    These authors contributed equally to this work.)

Abstract

This paper addresses the problem of chaos control in an economic mathematical dynamical model. By regarding the control variables as the bifurcation parameters, the stability of equilibria and the existence of Hopf bifurcations of the relevance feedback system are investigated, and the criterion of controllability for the chaotic system is obtained based on a time-delayed feedback control technique. Furthermore, numerical simulations are provided to demonstrate the feasibility of our methods and results.

Suggested Citation

  • Yang Hu & Guangping Hu, 2023. "Stabilization and Chaos Control of an Economic Model via a Time-Delayed Feedback Scheme," Mathematics, MDPI, vol. 11(13), pages 1-13, July.
    • Handle: RePEc:gam:jmathe:v:11:y:2023:i:13:p:2994-:d:1187155
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    References listed on IDEAS

    as
    1. Day, R H, 1992. "Complex Economic Dynamics: Obvious in History, Generic in Theory, Elusive in Data," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 7(S), pages 9-23, Suppl. De.
    2. Bullard, James & Butler, Alison, 1993. "Nonlinearity and Chaos in Economic Models: Implications for Policy Decisions," Economic Journal, Royal Economic Society, vol. 103(419), pages 849-867, July.
    3. Jess Benhabib & Richard H. Day, 1981. "Rational Choice and Erratic Behaviour," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 48(3), pages 459-471.
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    Cited by:

    1. Molan Li & Da Li & Junxing Zhang & Xuanlu Xiang & Di Zhao, 2023. "Dynamics of Optimal Cue Integration with Time-Varying Delay in the Insects’ Navigation System," Mathematics, MDPI, vol. 11(17), pages 1-17, August.

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