Chaos in integer order and fractional order financial systems and their synchronization

Fei Xu, Yongzeng Lai and Xiao-Bao Shu

Chaos, Solitons & Fractals, 2018, vol. 117, issue C, 125-136

Abstract: In this paper, we use integer order and fractional order differential equation systems to model a financial system. Based on the interaction among several financial factors, a model is constructed. Both mathematical analyses and numerical simulations are carried out to illustrate the characteristic of the model. We find that the system displays a variety of rich dynamic behaviours including chaos over a wide range of system parameters. Our investigation indicates that the interplay among several financial factors lead to chaos under some circumstances. We then design control laws to synchronization two integer order financial systems and two fractional order financial systems. Numerical simulations are presented to verify the effectiveness of the designed control laws.

Keywords: Financial system; Chaos; Fractional order system of differential equations; Integer order system of differential equations (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:chsofr:v:117:y:2018:i:c:p:125-136

DOI: 10.1016/j.chaos.2018.10.005

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