2003 | OriginalPaper | Buchkapitel
Heterogeneous Models with Learning and Homoclinic Bifurcations
verfasst von : I. Foroni, L. Gardini
Erschienen in: Heterogenous Agents, Interactions and Economic Performance
Verlag: Springer Berlin Heidelberg
Enthalten in: Professional Book Archive
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We analyze a class of models representing heterogeneous agents with adaptively rational rules. The models reduce to non invertible maps of R2. In particular we shall investigate the homoclinic bifurcation of the saddle fixed point, which causes the sudden transition to a chaotic attractor (or strange attractor, with self-similar structure).