Analysis of nonlinear dynamics and chaos in a fractional order financial system with time delay

In this paper, a delayed fractional order financial system is proposed and the complex dynamical behaviors of such a system are discussed by numerical simulations. A great variety of interesting dynamical behaviors of such a system including single-periodic, multiple-periodic, and chaotic motions ar...

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Bibliographic Details
Published in:Computers & mathematics with applications (1987) 2011-08, Vol.62 (3), p.1531-1539
Main Authors: Wang, Zhen, Huang, Xia, Shi, Guodong
Format: Article
Language:English
Subjects:
Approximation
Chaos
Chaos theory
Computer simulation
Delay
Dynamical systems
Fractional order financial system
Mathematical models
Nonlinear dynamics
Time delay
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Summary:In this paper, a delayed fractional order financial system is proposed and the complex dynamical behaviors of such a system are discussed by numerical simulations. A great variety of interesting dynamical behaviors of such a system including single-periodic, multiple-periodic, and chaotic motions are displayed. In particular, the effect of time delay on the chaotic behavior is investigated, it is found that an approximate time delay can enhance or suppress the emergence of chaos. Meanwhile, corresponding to different values of delay, the lowest orders for chaos to exist in the delayed fractional order financial systems are determined, respectively.
ISSN:0898-1221
1873-7668
DOI:10.1016/j.camwa.2011.04.057