|Paper title:||CHAOS MODELS IN ECONOMICS|
|Published in:||Issue 2, (Vol. 1) / 2007Download|
|Author(s):||Vlad Sorin, Ostafe Dumitru, Pascu Paul|
|Abstract.||The paper discusses the main ideas of the chaos theory and presents mainly the importance of the nonlinearities in the mathematical models. Chaos and order are apparently two opposite terms. The fact that in chaos can be found a certain precise symmetry (Feigenbaum numbers) is even more surprising. As an illustration of the ubiquity of chaos, two (among many other) models are presented here: the nonlinear feedback profit model and one model for the simulation of the exchange rate.|
|Keywords:||Chaos Models, Chaotic Behavior, Nonlinear Models|
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