Models of Continuous Dynamics on the 2-Simplex and Applications in Economics

Denis Stijepic

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper, we discuss the models of continuous dynamics on the 2-simplex that arise when different qualitative restrictions are imposed on the (continuous) functions that generate the dynamics on the 2-simplex. We consider three types of qualitative restrictions: inequality (or set-theoretical) conditions, monotonicity/curvature (or differential-geometrical) conditions, and topological conditions (referring to (transversal) non-(self-)intersection of trajectories). We discuss the implications of these restrictions for transitional and limit dynamics on the 2-simplex and the wide range of potential and existing applications of the resulting system-theoretical models in economics and, in particular, in economic growth and development theory.

Keywords: dynamics; trajectory; 2-simplex; continuous; monotonous; intersection; self-intersection; curvature; Poincaré-Bendixson theory; economics applications (search for similar items in EconPapers)
JEL-codes: C61 C65 O11 O41 (search for similar items in EconPapers)
Date: 2018-04-23
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Citations: View citations in EconPapers (1)

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