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Chaos in integer order and fractional order financial systems and their synchronization

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  • Xu, Fei
  • Lai, Yongzeng
  • Shu, Xiao-Bao

Abstract

In this paper, we use integer order and fractional order differential equation systems to model a financial system. Based on the interaction among several financial factors, a model is constructed. Both mathematical analyses and numerical simulations are carried out to illustrate the characteristic of the model. We find that the system displays a variety of rich dynamic behaviours including chaos over a wide range of system parameters. Our investigation indicates that the interplay among several financial factors lead to chaos under some circumstances. We then design control laws to synchronization two integer order financial systems and two fractional order financial systems. Numerical simulations are presented to verify the effectiveness of the designed control laws.

Suggested Citation

  • Xu, Fei & Lai, Yongzeng & Shu, Xiao-Bao, 2018. "Chaos in integer order and fractional order financial systems and their synchronization," Chaos, Solitons & Fractals, Elsevier, vol. 117(C), pages 125-136.
    • Handle: RePEc:eee:chsofr:v:117:y:2018:i:c:p:125-136
    DOI: 10.1016/j.chaos.2018.10.005
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    Cited by:

    1. Anguiano-Gijón, Carlos Alberto & Muñoz-Vázquez, Aldo Jonathan & Sánchez-Torres, Juan Diego & Romero-Galván, Gerardo & Martínez-Reyes, Fernando, 2019. "On predefined-time synchronisation of chaotic systems," Chaos, Solitons & Fractals, Elsevier, vol. 122(C), pages 172-178.
    2. Sangpet, Teerawat & Kuntanapreeda, Suwat, 2020. "Finite-time synchronization of hyperchaotic systems based on feedback passivation," Chaos, Solitons & Fractals, Elsevier, vol. 132(C).

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