asset price dynamics in a financial market with fundamentalists and chartists

Clicks: 31
ID: 172150
2001
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Abstract
In this paper we consider a model of the dynamics of speculative markets involving the interaction of fundamentalists and chartists. The dynamics of the model are driven by a two-dimensional map that in the space of the parameters displays regions of invertibility and noninvertibility. The paper focuses on a study of local and global bifurcations which drastically change the qualitative structure of the basins of attraction of several, often coexistent, attracting sets. We make use of the theory of critical curves associated with noninvertible maps, as well as of homoclinic bifurcations and homoclinic orbits of saddles in regimes of invertibility.
Reference Key
chairella2001discreteasset Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors ;Carl Chairella;Roberto Dieci;Laura Gardini
Journal Journal of the American Heart Association
Year 2001
DOI
10.1155/S1026022601000103
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