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Strong resonances and chaos in a stock market model
Journal article

Strong resonances and chaos in a stock market model

Luca Ghezzi and Yuri Kuznetsov
International journal of systems science, Vol.25(11, November 1994), pp.1941-1955
1994
Scopus ID: 2-s2.0-0346026548
Web of Science ID: WOS:A1994QB38200020

Abstract

A stock market model is considered, in which two classes of traders follow a time-invariant and a periodically varying feedback policy, respectively. A bifurcation analysis of the periodic solutions is carried out by means of a continuation technique. Attention is devoted to subharmonics, phase-locking and chaos. The latter is shown to emerge through a cascade of period doublings and torus destruction. The economic implications of chaos are examined.

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