A Dynamic Economic Model with Discrete Time and Consumer Sentiment

A Dynamic Economic Model with Discrete Time and Consumer Sentiment

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The paper click here describes a dynamical economic model with discrete time and consumer sentiment in the deterministic and stochastic cases.We seek to demonstrate that consumer sentiment may create fluctuations in the economical activities.The model possesses a flip bifurcation and a Neimark-Sacker bifurcation, after which the stable state is replaced by a (quasi) periodic motion.We associate the difference stochastic equation to the model by randomizing the control parameter d and by adding one stochastic control.

Numerical simulations are made for the deterministic and stochastic models, for different values of operation igloo white the control parameter d.