R and D policy in space and time. A nonlinear evolutionary growth model

Peter Nijkamp, Jacques Poot and Jan Rouwendal

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Abstract: In this paper we shall explore these questions by means of a multiregional dynamic (discrete-time) model. It will be shown that the system can generate a wide range of dynamic behaviour, including - for certain parameters - the dynamic evolutions occurring in models of population biology (notably the so-called May type of models, see e.g. May (1976)). The May model is a particular type of model generating chaotic behaviour in dynamic systems. The theory of chaos as such has gained increasing interest in economics (see among others Benhabib and Day, 1981, 1982, Pohjola, 1981, or Stutzer, 1980). It is well-known that the periodic or chaotic behaviour of a May model is the result of specification of the model in difference equation form (see e.g. Barentsen and Nijkamp, 1988), but it will be shown that the model developed here generates bounded non-linear dynamics even in differential equation form. Finally, the steering possibilities of the system (e.g. by means op optimized control) will be touched upon.

Keywords: Economics; Economic theory; Management; Management economics; Gestion; Economie (search for similar items in EconPapers)
Date: 1988
Note: View the original document on HAL open archive server: https://hal.science/hal-01541463
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Published in [Research Report] Laboratoire d'analyse et de techniques économiques(LATEC). 1988, 26 p., ref. bib. : 2 p

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