Some reflections on past and future of nonlinear dynamics in Economics and Finance

Fabio Tramontana, Mikhail Anufriev, Davide Radi

Research output: Contribution to journalArticle

5 Citations (Scopus)

Abstract

This paper offers an overview of the literature on the economic and financial applications of theory of nonlinear dynamics, especially bifurcation theory. After a short introductory discussion of the first nonlinear dynamic models in social sciences and the economic relevance of the zoo of bifurcations and complicated dynamics that such models can generate, we present an overview of the literature on nonlinear dynamic models in the areas of underdevelopment, environmental poverty traps, the management of common goods, industrial organization and financial markets. The review of the literature is enriched by reflections and ideas for future research.
Original languageEnglish
Pages (from-to)91-118
Number of pages28
JournalDecisions in Economics and Finance
Volume2018
Publication statusPublished - 2018

Keywords

  • Local and Global Bifurcations
  • Nonlinear dynamics

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