0000000000230896
AUTHOR
Tatyana Ryazanova
Dynamics of a minimal consumer network with bi -directional influence
Abstract We study the dynamics of a model of interdependent consumer behavior defined by a family of two-dimensional noninvertible maps. This family belongs to a class of coupled logistic maps with different nonlinearity parameters and coupling terms that depend on one variable only. In our companion paper we considered the case of independent consumers as well as the case of uni-directionally connected consumers. The present paper aims at describing the dynamics in the case of a bi-directional connection. In particular, we investigate the bifurcation structure of the parameter plane associated with the strength of coupling between the consumers, focusing on the mechanisms of qualitative tr…
Sensitivity analysis of consumption cycles
We study the special case of a nonlinear stochastic consumption model taking the form of a 2-dimensional, non-invertible map with an additive stochastic component. Applying the concept of the stochastic sensitivity function and the related technique of confidence domains, we establish the conditions under which the system's complex consumption attractor is likely to become observable. It is shown that the level of noise intensities beyond which the complex consumption attractor is likely to be observed depends on the weight given to past consumption in an individual's preference adjustment.
Noise-induced transitions in a stochastic Goodwin-type business cycle model
Abstract We motivate and specify a stochastic Goodwin-type business cycle model. Our analysis focusses on a subset of the parameter space where several attractors coexist. Applying a semi-numerical approach based on the stochastic sensitivity function and confidence domains due to Milstein and Ryashko (1995) , we study random transitions between stable attractors in the context of the Goodwin-type economy embedded in an uncertain environment. Relying on a mix of analytical considerations and simulations we demonstrate that under weak noise levels regime switching is a prominent feature in the presence of low saving rates. Moreover, we explain how increased uncertainty can induce an essentia…
Transitions in consumption behaviors in a peer-driven stochastic consumer network
Abstract We study transition phenomena between attractors occurring in a stochastic network of two consumers. The consumption of each individual is strongly influenced by the past consumption of the other individual, while own consumption experience only plays a marginal role. From a formal point of view we are dealing with a special case of a nonlinear stochastic consumption model taking the form of a 2-dimensional non-invertible map augmented by additive and/or parametric noise. In our investigation of the stochastic transitions we rely on a mixture of analytical and numerical techniques with a central role given to the concept of the stochastic sensitivity function and the related techni…