Feichtinger G, Prskawetz A, Herold W, & Zinner P (1995). Habit formation with threshold adjustment: Addiction may imply complex dynamics. Journal of Evolutionary Economics 5 (2): 157-172. DOI:10.1007/BF01199855.Full text not available from this repository.
A time-discrete descriptive model of habit formation is presented. Addictive behaviour is damped by a threshold which adapts itself to the habit. This simple framework is able to explain periodic, quasi-periodic as well as chaotic consumption patterns of addictive consumers. It turns out that both a high adjustment rate and a steep consumption function favour complex (chaotic) patterns.
|Uncontrolled Keywords:||Local bifurcation analysis; Neimark-Sacker bifurcation; Quasiperiodic dynamics; Addiction; Habit formation|
|Research Programs:||World Population (POP)|
|Bibliographic Reference:||Journal of Evolutionary Economics; 5(2):157-172 (June 1995)|
|Depositing User:||IIASA Import|
|Date Deposited:||15 Jan 2016 02:05|
|Last Modified:||23 Feb 2016 13:15|
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