Nonlinear Cobweb Model with Time Delays

DOI

10.2991/msam-15.2015.91How to use a DOI?

Keywords

continuous time cobweb model; nonlinear price dynamics; production delay; stability switching; hopf bifurcation

Abstract

We study the effects of production delays on the local as well as on global dynamics of nonlinear Cobweb model in a continuous-time frame- work. After reviewing a single delay model, we proceed to two models with two delays. When the two delays are used to form an expected price or feedback for price adjustment, we have a winding stability switching curve and in consequence, obtain repetition of stability losses and gains via Hopf bifurcation.

Copyright

© 2015, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Akio Matsumoto
AU  - Keiko Nakayama
PY  - 2015/08
DA  - 2015/08
TI  - Nonlinear Cobweb Model with Time Delays
BT  - Proceedings of the 2015 International Conference on Modeling, Simulation and Applied Mathematics
PB  - Atlantis Press
SP  - 402
EP  - 406
SN  - 1951-6851
UR  - https://doi.org/10.2991/msam-15.2015.91
DO  - 10.2991/msam-15.2015.91
ID  - Matsumoto2015/08
ER  -