A simple example of complex dynamics

Anjan Mukherji

Economic Theory, 1999, vol. 14, issue 3, 749 pages

Abstract: A discrete tatonnement process is analysed within the context of a two-person, two-good exchange economy where each person has a Cobb-Douglas utility function. This process is shown to exhibit period doubling bifurcation, topological and ergodic chaos.

Keywords: Period-doubling bifurcation; Topological and ergodic chaos. (search for similar items in EconPapers)
Date: 1999-10-14
Note: Received: June 22, 1998; revised version: July 15, 1998
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