Generation mechanisms of strange nonchaotic attractors and multistable dynamics in a class of nonlinear economic systems

In this paper, we study strange nonchaotic attractors (SNAs) and multistable dynamics in a class of nonlinear economic systems. For quasiperiodically forced case, the generation and evolution mechanisms of SNAs are discussed. The fractal, Heagy–Hammel, torus doubling, and intermittency routes to SNA...

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Bibliographic Details
Published in:Nonlinear dynamics 2023-06, Vol.111 (11), p.10617-10627
Main Authors: Li, Gaolei, Duan, Jicheng, Li, Denghui, Wang, Na
Format: Article
Language:English
Subjects:
Automotive Engineering
Classical Mechanics
Control
Dynamical Systems
Economic conditions
Engineering
Fractals
Labor force
Liapunov exponents
Mechanical Engineering
Nonlinear systems
Original Paper
Phillips curve
Space telescopes
Toruses
Unemployment
Vibration
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Summary:In this paper, we study strange nonchaotic attractors (SNAs) and multistable dynamics in a class of nonlinear economic systems. For quasiperiodically forced case, the generation and evolution mechanisms of SNAs are discussed. The fractal, Heagy–Hammel, torus doubling, and intermittency routes to SNAs are identified. The Lyapunov exponent, phase-sensitive function and power spectrum are used to characterize the dynamical and geometrical properties of SNAs. Moreover, when multistable phenomenon occur in the system, the boundaries of the basin of attraction may become intertwined, which leads to the economic unpredictability in the long run.
ISSN:0924-090X
1573-269X
DOI:10.1007/s11071-023-08382-1