An evolutive discrete exchange economy model with heterogeneous preferences

Ahmad Naimzada and Marina Pireddu

Chaos, Solitons & Fractals, 2018, vol. 111, issue C, 35-43

Abstract: We propose an exchange economy evolutionary model with discrete time, in which there are two groups of agents characterized by different structures of preferences. The share updating mechanism depends in a monotone manner on the goods’ consumption, described in terms of the calorie intakes. In such framework we investigate the existence of equilibria, their stability and the occurrence of multistability phenomena via a qualitative bifurcation analysis, which also highlights the presence of transcritical bifurcations.

Keywords: Endogenous preferences; Evolution; Coexistence; Bifurcation; Complex dynamics; Multistability (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:chsofr:v:111:y:2018:i:c:p:35-43

DOI: 10.1016/j.chaos.2018.03.041

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