Chaos control in economical model by time-delayed feedback method

Janusz A Hołyst and Krzysztof Urbanowicz ()

Physica A: Statistical Mechanics and its Applications, 2000, vol. 287, issue 3, 587-598

Abstract: A two-dimensional map describing chaotic behaviour of an economic model has been stabilized on various periodic orbits by the use of Pyragas time-delayed feedback control. The method avoids fancy data processing used in the Ott–Grebogi–Yorke approach and is based solely on the plain measurement and time lag of a scalar signal which in our case is a value of sales of a firm following an active investment strategy (Behrens–Feichtinger model). We show that the application of this control method is very straightforward and one can easily switch from a chaotic trajectory to a regular periodic orbit and simultaneously improve the system's economic properties.

Keywords: Chaos control; Time-discrete dynamics; Microeconomy (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (24)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:287:y:2000:i:3:p:587-598

DOI: 10.1016/S0378-4371(00)00395-2

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