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Hopf Bifurcation and Dynamic Analysis of an Improved Financial System with Two Delays

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  • G. Kai
  • W. Zhang
  • Z. Jin
  • C. Z. Wang

Abstract

The complex chaotic dynamics and multistability of financial system are some important problems in micro- and macroeconomic fields. In this paper, we study the influence of two-delay feedback on the nonlinear dynamics behavior of financial system, considering the linear stability of equilibrium point under the condition of single delay and two delays. The system undergoes Hopf bifurcation near the equilibrium point. The stability and bifurcation directions of Hopf bifurcation are studied by using the normal form method and central manifold theory. The theoretical results are verified by numerical simulation. Furthermore, one feature of the proposed financial chaotic system is that its multistability depends extremely on the memristor initial condition and the system parameters. It is shown that the nonlinear dynamics of financial chaotic system can be significantly changed by changing the values of time delays.

Suggested Citation

  • G. Kai & W. Zhang & Z. Jin & C. Z. Wang, 2020. "Hopf Bifurcation and Dynamic Analysis of an Improved Financial System with Two Delays," Complexity, Hindawi, vol. 2020, pages 1-13, February.
    • Handle: RePEc:hin:complx:3734125
    DOI: 10.1155/2020/3734125
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