Chaotic consumption patterns in a simple 2-d addiction model

Feichtinger, G., Hommes, C.H., & Milik, A. (1997). Chaotic consumption patterns in a simple 2-d addiction model. Economic Theory 10 (1) 147-173. 10.1007/s001990050151.

Full text not available from this repository.

Abstract

Consumption fluctuations in a simple 2-D addiction model are investigated. The behavioural equations of the model are suggested by a related 'rational addiction' model of Becker and Murphy [2]. Our model generates erratic, seemingly unpredictable consumption patterns of the addicted persons. The occurence of chaos is proven by locating a so called horseshoe map in the phase space.

Item Type:	Article
Research Programs:	World Population (POP)
Bibliographic Reference:	Economic Theory; 10(1):147-173 (June 1997)
Depositing User:	IIASA Import
Date Deposited:	15 Jan 2016 02:08
Last Modified:	27 Aug 2021 17:15
URI:	https://pure.iiasa.ac.at/5058

Actions (login required)

View Item