6533b857fe1ef96bd12b4fc5

RESEARCH PRODUCT

Time-delay control for stabilization of the Shapovalov mid-size firm model

T. A. AlexeevaW. A. BarnettN. V. KuznetsovT. N. Mokaev

subject

kaaosteoriaFOS: Physical sciencesLorenz-like systemtaloudelliset ennusteetunstable periodic orbitNonlinear Sciences - Chaotic Dynamicsmid-size firm modelvakauttaminen (talous ja yhteiskunta)stabilizationNonlinear Sciences::Chaotic Dynamicsnonlinear dynamicssäätöteoriachaotic economytime-delay feedback controltaloudelliset mallitcontrol of chaosChaotic Dynamics (nlin.CD)dynaamiset systeemit

description

Control and stabilization of irregular and unstable behavior of dynamic systems (including chaotic processes) are interdisciplinary problems of interest to a variety of scientific fields and applications. Using the control methods allows improvements in forecasting the dynamics of unstable economic processes and offers opportunities for governments, central banks, and other policy makers to modify the behaviour of the economic system to achieve its best performance. One effective method for control of chaos and computation of unstable periodic orbits (UPOs) is the unstable delay feedback control (UDFC) approach, suggested by K. Pyragas. This paper proposes the application of the Pyragas' method within framework of economic models. We consider this method through the example of the Shapovalov model, by describing the dynamics of a mid-size firm. The results demonstrate that suppressing chaos is capable in the Shapovalov model, using the UDFC method.

yearjournalcountryeditionlanguage
2020-03-18
http://arxiv.org/abs/2003.08484