Analysis of the stability and Hopf bifurcation of money supply delay in complex macroeconomic models

Ma, Junhai; Tu, Hongliang

doi:10.1007/s11071-013-1143-x

Cited by 20 publications

(15 citation statements)

References 13 publications

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“…Shen used evolutionary game to examine the enterprise decision-making behavior in the process of open innovation from the perspective of endogenous knowledge spillovers [42]. Lin et al set up an evolutionary game model of human innovation behaviors and discussed the impact of the heterogeneous structure on the evolution of innovation behaviors based on the scale-free network [43][44][45][46][47][48].…”

Section: Effects Of Government Subsidies On Enterprises'mentioning

confidence: 99%

The Evolution of Collective Strategies in SMEs’ Innovation: A Tripartite Game Analysis and Application

2019

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Financing difficulty is recognized as the main bottleneck in the technology innovation process of small- and medium-sized enterprises (SMEs). The governments generally provide financial support for SMEs’ innovation activities. Numerous research studies have been conducted on the role of the government in enterprises’ innovation, while there is no consistent conclusion on whether government subsidies can improve stakeholder collaboration and effectively ease financing constraints of SMEs’ innovation. Due to information asymmetry and the bounded rationality, the dynamic game among the government, external investors, and SMEs has the characteristics of complexity. This paper aims to explore the collective strategies of the major stakeholders in SMEs’ innovation and investigate the effect of antecedents on innovation activities. We establish a trilateral evolutionary game model on the relationship among the government, external investors, and SMEs. The simulation results show that the evolutionary system converges quickly to the equilibrium; when the government subsidies decrease, the external investors’ appraisal costs decrease and the investment amount and return rates of external investors increase. Furthermore, under the condition of government subsidies, external investors will not change their investment strategies even if the external investors’ recognition costs have exceeded their return on SMEs’ investment. The findings can provide good reference for the government to solve the financing problem of SMEs’ innovation.

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Section: Effects Of Government Subsidies On Enterprises'mentioning

confidence: 99%

The Evolution of Collective Strategies in SMEs’ Innovation: A Tripartite Game Analysis and Application

2019

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“…Taking into account the generality, we discuss system (2) under the case mentioned in [14], and 2 ∈ [0, 20 ).…”

Section: Local Stability At Equilibrium Pointsmentioning

confidence: 99%

“…Bischi and Naimzada [13] concluded the dynamical characteristics of bounded rationality duopoly game. Ma and Tu [14] carried out the corresponding extension of the complex dynamics to macroeconomic model with time delays considering the macroeconomic model of money supply. Ma and Wang [15] considered a closed-loop supply chain with product recovery, which is composed of one manufacturer and one retailer.…”

Section: Introductionmentioning

confidence: 99%

Computation of the Stability and Complexity about Triopoly Price Game Model with Delay Decision

Wang¹,

Guo²,

Duan³

2017

Advances in Mathematical Physics

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We develop the price game model based on the entropy theory and chaos theory, considering the three enterprises are bounded rationality and using the cost function under the resource constraints; that is, the yield increase will bring increased costs. The enterprises of new model adopt the delay decision with the delay parameters 1 and 2 , respectively. According to the change of delay parameters 1 and 2 , the bifurcation, stability, and chaos of the system are discussed, and the change of entropy when the system is far away from equilibrium is considered. Prices and profits are found to lose stability and the evolution of the system tends to the equilibrium state of maximum entropy. And it has a big fluctuation with the increase of 1 and 2 . In the end, the chaos is controlled effectively. The entropy of the system decreases, and the interior reverts to order. The results of this study are of great significance for avoiding the chaos when the enterprises make price decisions.

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“…Chen [31] analyzed the complex nonlinear dynamics, such as periodicity, quasiperiodicity, and chaotic behavior in the delayed feedback of financial systems. Ma and Tu [32] established a class of complex dynamic macroeconomic systems and studied the effect of time delay on savings rate and dynamic financial stability. Holyst and Urbanowicz [33] have shown that the chaotic attractor of the financial model can be stabilized in a periodic track by using Pyragas delayed feedback control.…”

Section: Introductionmentioning

confidence: 99%

Hopf Bifurcation and Dynamic Analysis of an Improved Financial System with Two Delays

et al. 2020

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e complex chaotic dynamics and multistability of financial system are some important problems in micro-and macroeconomic fields. In this paper, we study the influence of two-delay feedback on the nonlinear dynamics behavior of financial system, considering the linear stability of equilibrium point under the condition of single delay and two delays. e system undergoes Hopf bifurcation near the equilibrium point. e stability and bifurcation directions of Hopf bifurcation are studied by using the normal form method and central manifold theory. e theoretical results are verified by numerical simulation. Furthermore, one feature of the proposed financial chaotic system is that its multistability depends extremely on the memristor initial condition and the system parameters. It is shown that the nonlinear dynamics of financial chaotic system can be significantly changed by changing the values of time delays.

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Analysis of the stability and Hopf bifurcation of money supply delay in complex macroeconomic models

Cited by 20 publications

References 13 publications

The Evolution of Collective Strategies in SMEs’ Innovation: A Tripartite Game Analysis and Application

The Evolution of Collective Strategies in SMEs’ Innovation: A Tripartite Game Analysis and Application

Computation of the Stability and Complexity about Triopoly Price Game Model with Delay Decision

Hopf Bifurcation and Dynamic Analysis of an Improved Financial System with Two Delays

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