Dynamics analysis, adaptive control, synchronization and anti-synchronization of a novel modified chaotic financial system

In recent years, researchers from several fields including economics have developed models to better understand nonlinear phenomena such as chaos. To this direction, a novel chaotic financial system is presented in this paper. The nonlinear dynamics analysis of the proposed system has revealed some...

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Bibliographic Details
Published in:International journal of dynamics and control 2023-04, Vol.11 (2), p.862-876
Main Authors: Dousseh, Yaovi Paul, Monwanou, Adjimon Vincent, Koukpémèdji, Aimé Audran, Miwadinou, Clément Hodévèwan, Chabi Orou, Jean Bio
Format: Article
Language:English
Subjects:
Adaptive control
Bifurcations
Chaos theory
Complexity
Control
Control and Systems Theory
Control theory
Dynamical Systems
Economic models
Engineering
Liapunov exponents
Mathematical models
Nonlinear dynamics
Nonlinear phenomena
Parameters
Phase diagrams
Synchronism
Vibration
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Summary:In recent years, researchers from several fields including economics have developed models to better understand nonlinear phenomena such as chaos. To this direction, a novel chaotic financial system is presented in this paper. The nonlinear dynamics analysis of the proposed system has revealed some interesting phenomena such as chaos and period-doubling by using tools such as phase diagrams, time histories, largest Lyapunov exponent, parameters space and bifurcation diagrams. In addition, using bifurcation diagrams, the influence of varying certain parameters of the system on its dynamics has been also studied in detail. Then, to perform the control, complete synchronization and anti-synchronization of the novel chaotic financial system when its constant parameter values are unknown, adaptive control laws were derived using Lyapunov’s stability theory. Finally, to show the efficiency of theoretical results, numerical simulations were carried out.
ISSN:2195-268X
2195-2698
DOI:10.1007/s40435-022-01003-6