International Scientific Publications
© 2018 Science Events Ltd
Terms of use
Choose language English French Russian Bulgarian

Economy & Business, Volume 10, 2016

Akio Matsumoto, Keiko Nakayama
Pages: 132-139
Published: 28 Aug 2016
Views: 577
Downloads: 158
Abstract: This paper aims to study how an information lag on price affects economics dynamics. To this end, it constructs a delay cobweb model to conduct stability analysis with respect to the length of time delay. It is demonstrated that there is a threshold value of time delay and a steady state is asymptotically stable, loses stability and bifurcates to a limit cycle via Hopf bifurcation when a time delay is less than, equal to and larger than the threshold value.
Keywords: information lag, cobweb dynamics, delay differential equation, stability switching curve, hopf bifurcation
Download full text

Back to the contents of the volume