IDEAS home Printed from https://ideas.repec.org/a/eee/chsofr/v132y2020ics0960077919305090.html
   My bibliography  Save this article

Mathematical analysis for an autonomous financial dynamical system via classical and modern fractional operators

Author

Listed:
  • Yusuf, Abdullahi
  • Qureshi, Sania
  • Feroz Shah, Syed

Abstract

Economic agents remember the stories of changes of exogenous and endogenous variables leading researchers to employ fractional operators which inherently possess non-locality, Markovian and/or non-Markovian properties and short and long term memory effects. This research analysis revolves around the comparative study of an autonomous dynamical financial system using classical approach of differentiation and also contemporary tools from fractional calculus known as Caputo (α), Caputo–Fabrizio–Caputo (β) and the Atangana–Baleanu–Caputo (γ) operators. Firstly, the standard financial model is fractionalyzed taking different fractional-order parameter for each autonomous equation in all three models and obtained the new financial models with three operators under consideration. Fixed point theory shows that the fractional-order models have unique solution in the Banach space. Numerical simulations of the fractional order models apparently depict the varying interesting phenomena such as periodicity, fixed points and chaotic routes in two and three dimensional illustrations not obtainable via standard differentiation. In particular, the financial model with Atangana–Baleanu–Caputo operator represents comparatively fewer number of fluctuations over both small and large time scales and thus is said to possess better stability characteristics.

Suggested Citation

  • Yusuf, Abdullahi & Qureshi, Sania & Feroz Shah, Syed, 2020. "Mathematical analysis for an autonomous financial dynamical system via classical and modern fractional operators," Chaos, Solitons & Fractals, Elsevier, vol. 132(C).
    • Handle: RePEc:eee:chsofr:v:132:y:2020:i:c:s0960077919305090
    DOI: 10.1016/j.chaos.2019.109552
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0960077919305090
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.chaos.2019.109552?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Abu Arqub, Omar & Maayah, Banan, 2019. "Modulation of reproducing kernel Hilbert space method for numerical solutions of Riccati and Bernoulli equations in the Atangana-Baleanu fractional sense," Chaos, Solitons & Fractals, Elsevier, vol. 125(C), pages 163-170.
    2. Abro, Kashif Ali & Khan, Ilyas & Nisar, Kottakkaran Sooppy, 2019. "Novel technique of Atangana and Baleanu for heat dissipation in transmission line of electrical circuit," Chaos, Solitons & Fractals, Elsevier, vol. 129(C), pages 40-45.
    3. Abu Arqub, Omar & Al-Smadi, Mohammed, 2018. "Atangana–Baleanu fractional approach to the solutions of Bagley–Torvik and Painlevé equations in Hilbert space," Chaos, Solitons & Fractals, Elsevier, vol. 117(C), pages 161-167.
    4. Atangana, Abdon & Qureshi, Sania, 2019. "Modeling attractors of chaotic dynamical systems with fractal–fractional operators," Chaos, Solitons & Fractals, Elsevier, vol. 123(C), pages 320-337.
    5. Qureshi, Sania & Bonyah, Ebenezer & Shaikh, Asif Ali, 2019. "Classical and contemporary fractional operators for modeling diarrhea transmission dynamics under real statistical data," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 535(C).
    6. Qureshi, Sania & Yusuf, Abdullahi, 2019. "Modeling chickenpox disease with fractional derivatives: From caputo to atangana-baleanu," Chaos, Solitons & Fractals, Elsevier, vol. 122(C), pages 111-118.
    7. Qureshi, Sania & Yusuf, Abdullahi & Shaikh, Asif Ali & Inc, Mustafa, 2019. "Transmission dynamics of varicella zoster virus modeled by classical and novel fractional operators using real statistical data," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 534(C).
    8. Arqub, Omar Abu & Maayah, Banan, 2019. "Fitted fractional reproducing kernel algorithm for the numerical solutions of ABC – Fractional Volterra integro-differential equations," Chaos, Solitons & Fractals, Elsevier, vol. 126(C), pages 394-402.
    9. Qureshi, Sania & Yusuf, Abdullahi, 2019. "Mathematical modeling for the impacts of deforestation on wildlife species using Caputo differential operator," Chaos, Solitons & Fractals, Elsevier, vol. 126(C), pages 32-40.
    10. Qureshi, Sania & Atangana, Abdon, 2019. "Mathematical analysis of dengue fever outbreak by novel fractional operators with field data," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 526(C).
    11. Ullah, Saif & Altaf Khan, Muhammad & Farooq, Muhammad, 2018. "A fractional model for the dynamics of TB virus," Chaos, Solitons & Fractals, Elsevier, vol. 116(C), pages 63-71.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Abdel-Gawad, Hamdy I. & Baleanu, Dumitru & Abdel-Gawad, Ahmed H., 2021. "Unification of the different fractional time derivatives: An application to the epidemic-antivirus dynamical system in computer networks," Chaos, Solitons & Fractals, Elsevier, vol. 142(C).
    2. Kumar, Pushpendra & Erturk, Vedat Suat, 2021. "Environmental persistence influences infection dynamics for a butterfly pathogen via new generalised Caputo type fractional derivative," Chaos, Solitons & Fractals, Elsevier, vol. 144(C).
    3. Juan J. Gude & Pablo García Bringas, 2022. "A Novel Control Hardware Architecture for Implementation of Fractional-Order Identification and Control Algorithms Applied to a Temperature Prototype," Mathematics, MDPI, vol. 11(1), pages 1-40, December.
    4. Zhenduo Sun & Nengneng Qing & Xiangzhi Kong, 2023. "Asymptotic Hybrid Projection Lag Synchronization of Nonidentical Variable-Order Fractional Complex Dynamic Networks," Mathematics, MDPI, vol. 11(13), pages 1-17, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Qureshi, Sania & Memon, Zaib-un-Nisa, 2020. "Monotonically decreasing behavior of measles epidemic well captured by Atangana–Baleanu–Caputo fractional operator under real measles data of Pakistan," Chaos, Solitons & Fractals, Elsevier, vol. 131(C).
    2. Qureshi, Sania & Yusuf, Abdullahi, 2019. "Mathematical modeling for the impacts of deforestation on wildlife species using Caputo differential operator," Chaos, Solitons & Fractals, Elsevier, vol. 126(C), pages 32-40.
    3. Qureshi, Sania & Aziz, Shaheen, 2020. "Fractional modeling for a chemical kinetic reaction in a batch reactor via nonlocal operator with power law kernel," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 542(C).
    4. Mustapha, Umar Tasiu & Qureshi, Sania & Yusuf, Abdullahi & Hincal, Evren, 2020. "Fractional modeling for the spread of Hookworm infection under Caputo operator," Chaos, Solitons & Fractals, Elsevier, vol. 137(C).
    5. Qureshi, Sania, 2020. "Real life application of Caputo fractional derivative for measles epidemiological autonomous dynamical system," Chaos, Solitons & Fractals, Elsevier, vol. 134(C).
    6. El-Dessoky Ahmed, M.M. & Altaf Khan, Muhammad, 2020. "Modeling and analysis of the polluted lakes system with various fractional approaches," Chaos, Solitons & Fractals, Elsevier, vol. 134(C).
    7. Li, Zhongfei & Liu, Zhuang & Khan, Muhammad Altaf, 2020. "Fractional investigation of bank data with fractal-fractional Caputo derivative," Chaos, Solitons & Fractals, Elsevier, vol. 131(C).
    8. Sekerci, Yadigar & Ozarslan, Ramazan, 2020. "Respiration Effect on Plankton–Oxygen Dynamics in view of non-singular time fractional derivatives," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 553(C).
    9. Abu Arqub, Omar & Al-Smadi, Mohammed, 2020. "An adaptive numerical approach for the solutions of fractional advection–diffusion and dispersion equations in singular case under Riesz’s derivative operator," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 540(C).
    10. Qureshi, Sania, 2020. "Periodic dynamics of rubella epidemic under standard and fractional Caputo operator with real data from Pakistan," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 178(C), pages 151-165.
    11. Wang, Wanting & Khan, Muhammad Altaf & Fatmawati, & Kumam, P. & Thounthong, P., 2019. "A comparison study of bank data in fractional calculus," Chaos, Solitons & Fractals, Elsevier, vol. 126(C), pages 369-384.
    12. Qureshi, Sania & Atangana, Abdon, 2020. "Fractal-fractional differentiation for the modeling and mathematical analysis of nonlinear diarrhea transmission dynamics under the use of real data," Chaos, Solitons & Fractals, Elsevier, vol. 136(C).
    13. Berhe, Hailay Weldegiorgis & Qureshi, Sania & Shaikh, Asif Ali, 2020. "Deterministic modeling of dysentery diarrhea epidemic under fractional Caputo differential operator via real statistical analysis," Chaos, Solitons & Fractals, Elsevier, vol. 131(C).
    14. Abro, Kashif Ali & Khan, Ilyas & Nisar, Kottakkaran Sooppy, 2019. "Novel technique of Atangana and Baleanu for heat dissipation in transmission line of electrical circuit," Chaos, Solitons & Fractals, Elsevier, vol. 129(C), pages 40-45.
    15. Yadav, Swati & Pandey, Rajesh K., 2020. "Numerical approximation of fractional burgers equation with Atangana–Baleanu derivative in Caputo sense," Chaos, Solitons & Fractals, Elsevier, vol. 133(C).
    16. Djennadi, Smina & Shawagfeh, Nabil & Abu Arqub, Omar, 2021. "A fractional Tikhonov regularization method for an inverse backward and source problems in the time-space fractional diffusion equations," Chaos, Solitons & Fractals, Elsevier, vol. 150(C).
    17. Al-Smadi, Mohammed & Arqub, Omar Abu & Zeidan, Dia, 2021. "Fuzzy fractional differential equations under the Mittag-Leffler kernel differential operator of the ABC approach: Theorems and applications," Chaos, Solitons & Fractals, Elsevier, vol. 146(C).
    18. Ahmad, Zubair & Ali, Farhad & Khan, Naveed & Khan, Ilyas, 2021. "Dynamics of fractal-fractional model of a new chaotic system of integrated circuit with Mittag-Leffler kernel," Chaos, Solitons & Fractals, Elsevier, vol. 153(P2).
    19. Atangana, Abdon & Qureshi, Sania, 2019. "Modeling attractors of chaotic dynamical systems with fractal–fractional operators," Chaos, Solitons & Fractals, Elsevier, vol. 123(C), pages 320-337.
    20. Omar Abu Arqub & Mohamed S. Osman & Abdel-Haleem Abdel-Aty & Abdel-Baset A. Mohamed & Shaher Momani, 2020. "A Numerical Algorithm for the Solutions of ABC Singular Lane–Emden Type Models Arising in Astrophysics Using Reproducing Kernel Discretization Method," Mathematics, MDPI, vol. 8(6), pages 1-15, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:chsofr:v:132:y:2020:i:c:s0960077919305090. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Thayer, Thomas R. (email available below). General contact details of provider: https://www.journals.elsevier.com/chaos-solitons-and-fractals .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.