Dynamics of a stockless market through piecewise smooth models

Oscar Emilio Molina-Díaz, Gerard Olivar-Tost and Deissy Milena Sotelo-Castelblanco

Mathematics and Computers in Simulation (MATCOM), 2024, vol. 226, issue C, 246-269

Abstract: Markets play a crucial role in the economic activity of any country, serving as fundamental drivers of growth, development, and employment. Given their significance, understanding the dynamics of markets is essential. In this study, we present a mathematical model to characterize the behavior of a stockless market. The model is formulated using a system of ordinary differential equations defined with piecewise smooth functions. We conduct a mathematical analysis of the model, particularly focusing on the behavior of trajectories as they approach switching surfaces using Filippov’s analysis. Furthermore, we provide numerical simulations to visually illustrate the model’s dynamics and a insights a brief study of bifurcations is done.

Keywords: Filippov’s analysis; Stockless markets; Dynamical systems; Piecewise smooth dynamical systems; Bifurcations (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:matcom:v:226:y:2024:i:c:p:246-269

DOI: 10.1016/j.matcom.2024.07.009

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