SPINDLES AND COEXISTING ATTRACTORS IN A DYNAMIC-MODEL OF INTERDEPENDENT CONSUMER-BEHAVIOR - A NOTE

Autor(en): GAERTNER, W
JUNGEILGES, J
Stichwörter: Business & Economics; Economics
Erscheinungsdatum: 1993
Herausgeber: ELSEVIER SCIENCE BV
Journal: JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION
Volumen: 21
Ausgabe: 2
Startseite: 223
Seitenende: 231
Zusammenfassung: 
This paper studies interdependent consumer behavior in R2. The model of interaction is such that an individual's demand pattern is not only influenced by the own past consumption decisions but also by those of another person to whom this individual is related in one way or another. The paper concentrates on studying Hopf-bifurcations as well as the coexistence of several attractors, more precisely, the coexistence of a closed invariant curve with at least one other locally stable attractor which is a cycle of relatively low periodicity (3, 15). A `reversed' Hopf-bifurcation exists taking the complicated interactions back into a unique, globally stable fixed point.
ISSN: 01672681
DOI: 10.1016/0167-2681(93)90049-U

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