1. Chaotic dynamics in a commensurate fractional-order nonlinear economic system.
- Author
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XU Zheng-hui, LIU You-jin, TAN Wen, and CHEN Wei-min
- Subjects
- *
CHAOS theory , *ECONOMIC systems , *FRACTIONAL calculus , *TIME-domain analysis , *ECONOMIC equilibrium - Abstract
The chaotic dynamics in a commensurate fractional-order nonlinear financial system is studied from the time-domain point of view. Through obtaining and analyzing all equilibrium points of the financial system, the necessary condition for the existence of chaotic attractors in the system is derived via the stability theory of fractional-order system. It has been found that chaos is yielded with lowest order 2.55 in the fractional-order financial system. Meanwhile, a reliable binary discriminant for chaos (called "0-1" test) is utilized to detect the chaos presence in the system dynamics. The validation of theory analysis and the effectiveness of the proposed method are demonstrated by the simulation results. [ABSTRACT FROM AUTHOR]
- Published
- 2014