Periodic and chaotic programs of optimal intertemporal allocation in an aggregative model with wealth effects
Let \(E= F\times W\times \Delta\) be the set of economies where \(F\) is the set of production functions defined on \(R_+\). \(W\) is the set of welfare functions defined on \(R^2_+\), and \(\Delta= (0, 1)\) is the set of discount factors. The main results of this article are as follows. There exist an economy \(e\in E\) the dynamical system of which produced ergodic chaos and there exists an open set \(E'\subset E\) such that for each \(e\in E'\) the corresponding dynamical system produced topological chaos.
scientific article; zbMATH DE number 707371
scientific article