Chaos control in economical model by time-delayed feedback method

Janusz Hołyst , Krzysztof Urbanowicz

Abstract

A two-dimensional map describing chaotic behaviour of an economic model has been stabilized on various periodic orbits by the use of Pyragas time-delayed feedback control. The method avoids fancy data processing used in the Ott–Grebogi–Yorke approach and is based solely on the plain measurement and time lag of a scalar signal which in our case is a value of sales of a firm following an active investment strategy (Behrens–Feichtinger model). We show that the application of this control method is very straightforward and one can easily switch from a chaotic trajectory to a regular periodic orbit and simultaneously improve the system's economic properties.
Author Janusz Hołyst (FP)
Janusz Hołyst,,
- Faculty of Physics
, Krzysztof Urbanowicz - [Politechnika Warszawska]
Krzysztof Urbanowicz,,
-
-
Journal seriesPhysica A-Statistical Mechanics and Its Applications, ISSN 0378-4371
Issue year2000
Vol287
No3–4
Pages587-598
Keywords in EnglishChaos control, Microeconomy, Time-discrete dynamics
ASJC Classification3104 Condensed Matter Physics; 2613 Statistics and Probability
DOIDOI:10.1016/S0378-4371(00)00395-2
URL http://www.sciencedirect.com/science/article/pii/S0378437100003952
Score (nominal)30
Score sourcejournalList
Publication indicators WoS Citations = 84; GS Citations = 147.0; Scopus Citations = 102; Scopus SNIP (Source Normalised Impact per Paper): 2014 = 1.253; WoS Impact Factor: 2006 = 1.311 (2) - 2007=1.469 (5)
Citation count*151 (2020-09-01)
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