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      Complex Dynamics in a Nonlinear Cobweb Model for Real Estate Market

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      Discrete Dynamics in Nature and Society
      Hindawi Limited

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          Abstract

          We establish a nonlinear real estate model based on cobweb theory, where the demand function and supply function are quadratic. The stability conditions of the equilibrium are discussed. We demonstrate that as some parameters varied, the stability of Nash equilibrium is lost through period-doubling bifurcation. The chaotic features are justified numerically via computing maximal Lyapunov exponents and sensitive dependence on initial conditions. The delayed feedback control (DFC) method is applied to control the chaos of system.

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          Most cited references13

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          Continuous control of chaos by self-controlling feedback

          K Pyragas (1992)
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            A Rational Route to Randomness

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              Complex dynamics and synchronization of a duopoly game with bounded rationality

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                Author and article information

                Journal
                Discrete Dynamics in Nature and Society
                Discrete Dynamics in Nature and Society
                Hindawi Limited
                1026-0226
                1607-887X
                2007
                2007
                : 2007
                :
                : 1-14
                Article
                10.1155/2007/29207
                51b96a24-4668-4e14-aadf-c15cdd4f590a
                © 2007

                http://creativecommons.org/licenses/by/3.0/

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