Abstract

http://ssrn.com/abstract=806124
 
 

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Computing Economic Chaos


Richard H. Day


University of Southern California - Department of Economics

Oleg V. Pavlov


Worcester Polytechnic Institute (WPI) - Department of Social Science & Policy Studies


Computational Economics. Vol. 23, No. 4, pp. 289-301, 2004

Abstract:     
Existence theory in economics is usually in real domains such as the findings of chaotic trajectories in models of economic growth, tatonnement, or overlapping generations models. Computational examples, however, sometimes converge rapidly to cyclic orbits when in theory they should be nonperiodic almost surely. We explain this anomaly as the result of digital approximation and conclude that both theoretical and numerical behavior can still illuminate essential features of the real data.

Number of Pages in PDF File: 18

Keywords: Chaos, computer-generated chaos, computational approximation, tent map

JEL Classification: C61, C63, C88

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Date posted: September 23, 2005  

Suggested Citation

Day, Richard H. and Pavlov, Oleg V., Computing Economic Chaos. Available at SSRN: http://ssrn.com/abstract=806124

Contact Information

Richard H. Day (Contact Author)
University of Southern California - Department of Economics ( email )
Kaprielian Hall 318-A
Los Angeles, CA 90089
United States
213-740-2432 (Phone)
213-740-8543 (Fax)
Oleg V. Pavlov
Worcester Polytechnic Institute (WPI) - Department of Social Science & Policy Studies ( email )
100 Institute Road
Worcester, MA 01609
United States
508-831-5234 (Phone)
508-831-5892 (Fax)
HOME PAGE: http://users.wpi.edu/~opavlov/
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