Hopf Bifurcation Analysis for the Modified Rayleigh Price Model with Time Delay

Yanhui Zhai, Haiyun Bai, Ying Xiong and Xiaona Ma

Abstract and Applied Analysis, 2013, vol. 2013, 1-6

Abstract:

This paper mainly modifies and further develops the Reyleigh price model. By modifying the basic Reyleigh model, we can more accurately illustrate the economic phenomena with price varying. First, we research the dynamics of the modified Reyleigh model with time delay. By employing the normal form theory and center manifold theory, we obtain some testable results on these issues. The conclusion confirms that a Hopf bifurcation occurs due to the existence of stability switches when the delay varies. Finally, some numerical simulations are given to illustrate the effectiveness of our results.

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlaaa:290497

DOI: 10.1155/2013/290497

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