Challenges in Using the Methods of Bifurcation and Stability Analisis to Study Nonlinear Economic Models
Challenges in Using the Methods of Bifurcation and Stability Analisis to Study Nonlinear Economic Models

Author(s): Kostadin Sheiretsky
Subject(s): Social Sciences, Economy, Business Economy / Management, Sociology, Evaluation research, Social Informatics, ICT Information and Communications Technologies
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: Dynamical systems; Stability theory; Bifurcation theory
Summary/Abstract: An analysis of the mathematical methods: Lyapunov's theory of stability and theory of bifurcations, as well as their possibility to be applied in the study of economic models, has been made. Mathematical examples are given that explain how to apply these methods. The possibility of their use in system-critical phenomena has been analyzed.

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