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- Title
Computing Economic Chaos.
- Authors
Day, Richard H.; Pavlov, Oleg V.
- Abstract
Existence theory in economics is usually in real domains such as the findings of chaotic trajectories in models of economic growth, t¾tonnement, or overlapping generations models. Computational examples, however, sometimes converge rapidly to cyclic orbits when in theory they should be nonperiodic almost surely. We explain this anomaly as the result of digital approximation and conclude that both theoretical and numerical behavior can still illuminate essential features of the real data.
- Subjects
EXISTENCE theorems; ECONOMICS; COMPUTER system failures; SYSTEM failures; BINARY number system; COMPUTER arithmetic; NUMBER systems; MATHEMATICAL physics
- Publication
Computational Economics, 2004, Vol 23, Issue 4, p289
- ISSN
0927-7099
- Publication type
Article
- DOI
10.1023/B:CSEM.0000026787.81469.1f