Control and stabilization of irregular and unstable behavior of dynamic systems (including chaotic processes) are interdisciplinary problems of interest to a variety of scientific fields and applications. Using the control methods allows improvements in forecasting the dynamics of unstable economic processes and offers opportunities for governments, central banks, and other policy makers to modify the behaviour of the economic system to achieve its best performance. One effective method for control of chaos and computation of unstable periodic orbits (UPOs) is the unstable delay feedback control (UDFC) approach, suggested by K. Pyragas. This paper proposes the application of the Pyragas’ method within framework of economic models. We consider this method through the example of the Shapovalov model, by describing the dynamics of a mid-size firm. The results demonstrate that suppressing chaos is capable in the Shapovalov model, using the UDFC method. ; peerReviewed
Time-delay control for stabilization of the Shapovalov mid-size firm model
2020-01-01
Aufsatz (Zeitschrift)
Elektronische Ressource
Englisch
time-delay feedback control , unstable periodic orbit , stabilization , control of chaos , Lorenz-like system , nonlinear dynamics , chaotic economy , mid-size firm model , kaaosteoria , vakauttaminen (talous ja yhteiskunta) , taloudelliset mallit , säätöteoria , dynaamiset systeemit , taloudelliset ennusteet
DDC: | 629 |
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