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

Bahar Acay, Erdal Bas and Thabet Abdeljawad

Chaos, Solitons & Fractals, 2020, vol. 130, issue C

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.

Keywords: Price adjustment; Time paths; Fractional operators; Economics; Market equilibrium (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0960077919303844
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:chsofr:v:130:y:2020:i:c:s0960077919303844

DOI: 10.1016/j.chaos.2019.109438

Access Statistics for this article

Chaos, Solitons & Fractals is currently edited by Stefano Boccaletti and Stelios Bekiros

More articles in Chaos, Solitons & Fractals from Elsevier
Bibliographic data for series maintained by Thayer, Thomas R. ().