6533b7dbfe1ef96bd1270b0b
RESEARCH PRODUCT
Sensitivity analysis of consumption cycles
Tatyana RyazanovaIrina PopovaAnastasia MitrofanovaJochen Jungeilgessubject
Consumption (economics)Applied Mathematics05 social sciencesGeneral Physics and AstronomyStatistical and Nonlinear PhysicsObservable01 natural sciences010305 fluids & plasmasNoiseNonlinear system0502 economics and business0103 physical sciencesAttractorEconometricsSensitivity (control systems)050207 economicsSpecial casePreference (economics)Mathematical PhysicsMathematicsdescription
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.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2018-06-03 | Chaos: An Interdisciplinary Journal of Nonlinear Science |