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Chaos. 2018 May;28(5):055905. doi: 10.1063/1.5024033.

Sensitivity analysis of consumption cycles.

Author information

1
School of Business and Law, University of Agder, Servicebox 422, N-4604 Kristiansand, Norway.
2
Institute of Natural Science and Mathematics, Ural Federal University, Ekaterinburg, Mira 19, Russian Federation.

Abstract

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.

PMID:
29857677
DOI:
10.1063/1.5024033

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