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Limited Computational Ability and Approximation of Dynamical Systems

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  • Colucci, Domenico

Abstract

This paper addresses problems due to approximation of dynamical systems. The approach presented here is based on the notion of the shadowing property of a dynamical system and on the use of pseudotrajectories to approximate true orbits. In particular, specific results in the case of attractors and the notion of generalized shadowing are reviewed. The evidence described may be relevant for a wide range of economic models, whenever agents that have limited computational ability, such as agents relying on digital computers, are concerned. The final section presents two sample applications to economic models. Copyright 2001 by Kluwer Academic Publishers

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  • Colucci, Domenico, 2001. "Limited Computational Ability and Approximation of Dynamical Systems," Computational Economics, Springer;Society for Computational Economics, vol. 17(2-3), pages 155-178, June.
    • Handle: RePEc:kap:compec:v:17:y:2001:i:2-3:p:155-78
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    1. Kehoe, Timothy J & Levine, David K, 1985. "Comparative Statics and Perfect Foresight in Infinite Horizon Economies," Econometrica, Econometric Society, vol. 53(2), pages 433-453, March.
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    5. Chiarella, Carl, 1986. "Perfect foresight models and the dynamic instability problem from a higher viewpoint," Economic Modelling, Elsevier, vol. 3(4), pages 283-292, October.
    6. George, Donald A. R. & Oxley, Leslie T., 1985. "Structural stability and model design," Economic Modelling, Elsevier, vol. 2(4), pages 307-316, October.
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    Cited by:

    1. Roberto Samaniego, 2013. "Stages of Diversification and Industry Productivity Differences," 2013 Meeting Papers 774, Society for Economic Dynamics.

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