Pages: 75 - 82
Abstract:
Computer simulation of real systems requires often to take into account values of crucial quantities not only at the present time, but also their recent history. Models allowing for a dependence of the rate of change on delayed values of the modeled quantity have been applied in economics to explain cycles in the exchange rates of foreign currencies. For a certain type of model equations, the existence of stable limit cycles has been shown analytically. Certain restrictive conditions on the constitutive functions, describing the behavior of traders, had to be assumed. In this paper, the analytical results are confirmed by computer simulation. Moreover, the existence of limit cycles is computationally verified under much weaker assumptions.
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ptskvol2no2_art2.pdf