Further Investigations on the Dynamics and Multistability Coexisted in a Memory-Based Cobweb Model
Based on a nonlinear demand function and a market-clearing price, a cobweb model is introduced in this paper. A gradient mechanism that depends on the marginal profit is adopted to form the 1D discrete dynamic cobweb map. Analytical studies show that the map possesses four fixed points and only one...
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| Format: | Article |
| Language: | English |
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Hindawi-Wiley
2021-01-01
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| Series: | Complexity |
| Online Access: | http://dx.doi.org/10.1155/2021/6642706 |