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Limited Computational Ability and Approximation of Dynamical Systems

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  • Domenico Colucci

    (University of Florence)

Abstract

This paper is devoted to the theoretical aspects of approximating dynamical systems and to some possible applications in economics. 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 final sections deal with economic applications and suggest a range of situations in which the type of bounded computational ability depicted here might be relevant.

Suggested Citation

  • Domenico Colucci, 1999. "Limited Computational Ability and Approximation of Dynamical Systems," Computing in Economics and Finance 1999 1142, Society for Computational Economics.
    • Handle: RePEc:sce:scecf9:1142
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    References listed on IDEAS

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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.
    2. Marimon, Ramon & Sunder, Shyam, 1993. "Indeterminacy of Equilibria in a Hyperinflationary World: Experimental Evidence," Econometrica, Econometric Society, vol. 61(5), pages 1073-1107, September.
    3. Calvo, Guillermo A, 1977. "The Stability of Models of Money and Perfect Foresight: A Comment," Econometrica, Econometric Society, vol. 45(7), pages 1737-1739, October.
    4. David Cass, 1965. "Optimum Growth in an Aggregative Model of Capital Accumulation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 32(3), pages 233-240.
    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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