A dynamic economic model with discrete time and consumer sentiment
type: Item
instance of: scholarly article
title: A dynamic economic model with discrete time and consumer sentiment
zbMATH Open document ID: 1187.37131
DOI: 10.1155/2009/509561
author: A. L. Ciurdariu
author: Loretti Dobrescu
author: Mihaela Neamtu
author: Dumitru Opris
published in: Discrete Dynamics in Nature and Society
publication date: 2010-04-26T00:00:00Z
review text: Summary: The paper describes a dynamical economic model with discrete time and consumer sentiment in the deterministic and stochastic cases. We seek to demonstrate that consumer sentiment may create fluctuations in the economical activities. The model possesses a flip bifurcation and a Neimark-Sacker bifurcation, after which the stable state is replaced by a (quasi) periodic motion. We associate the difference stochastic equation to the model by randomizing the control parameter \(d\) and by adding one stochastic control. Numerical simulations are made for the deterministic and stochastic models, for different values of the control parameter \(d\).
Mathematics Subject Classification ID: 37N40
Mathematics Subject Classification ID: 91B55
zbMATH DE Number: 5701468
zbMATH Keywords: Neimark-Sacker bifurcation
zbMATH Keywords: economic model
MaRDI profile type: Publication
full work available at URL: https://doi.org/10.1155/2009/509561
OpenAlex ID: W2153066899
Wikidata QID: Q58647493
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description: scientific article; zbMATH DE number 5701468