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A Necessary and Sufficient Condition for the Existence of Chaotic Dynamics in an Overlapping Generations Model

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  • Tomohiro Uchiyama

    (Soka University)

Abstract

In this paper, we study economic dynamics in a standard overlapping generations model without production. In particular, using numerical methods, we obtain a necessary and sufficient condition for the existence of a topological chaos. This is a new application of a recent result characterising the existence of a topological chaos for a unimodal interval map by Deng et al. (J Econ Theory 201:105446, 2022).

Suggested Citation

  • Tomohiro Uchiyama, 2024. "A Necessary and Sufficient Condition for the Existence of Chaotic Dynamics in an Overlapping Generations Model," SN Operations Research Forum, Springer, vol. 5(2), pages 1-12, June.
    • Handle: RePEc:spr:snopef:v:5:y:2024:i:2:d:10.1007_s43069-024-00329-5
    DOI: 10.1007/s43069-024-00329-5
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    References listed on IDEAS

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    1. Deng, Liuchun & Khan, M. Ali & Mitra, Tapan, 2022. "Continuous unimodal maps in economic dynamics: On easily verifiable conditions for topological chaos," Journal of Economic Theory, Elsevier, vol. 201(C).
    2. Benhabib, Jess & Day, Richard H., 1982. "A characterization of erratic dynamics in, the overlapping generations model," Journal of Economic Dynamics and Control, Elsevier, vol. 4(1), pages 37-55, November.
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    More about this item

    Keywords

    Chaos; Overlapping generations model; Numerical method;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D41 - Microeconomics - - Market Structure, Pricing, and Design - - - Perfect Competition
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

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