Exponential Stability of Stochastic Nonlinear Dynamical Price System with Delay

Wenli Zhu, Xinfeng Ruan, Ye Qin and Jie Zhuang

Mathematical Problems in Engineering, 2013, vol. 2013, 1-9

Abstract:

Based on Lyapunov stability theory, Itô formula, stochastic analysis, and matrix theory, we study the exponential stability of the stochastic nonlinear dynamical price system. Using Taylor's theorem, the stochastic nonlinear system with delay is reduced to an -dimensional semilinear stochastic differential equation with delay. Some sufficient conditions of exponential stability and corollaries for such price system are established by virtue of Lyapunov function. The time delay upper limit is solved by using our theoretical results when the system is exponentially stable. Our theoretical results show that if the classical price Rayleigh equation is exponentially stable, so is its perturbed system with delay provided that both the time delay and the intensity of perturbations are small enough. Two examples are presented to illustrate our results.

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:168169

DOI: 10.1155/2013/168169

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