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The European Physical Journal Special Topics

, Volume 143, Issue 1, pp 241–243 | Cite as

A model of coupled maps for economic dynamics

  • J. R. Sánchez
  • J. González-Estévez
  • R. López-Ruiz
  • M. G. Cosenza
Article

Abstract.

A deterministic system of coupled maps is proposed as a model for economic activity among interacting agents. The values of the maps represent the wealth of the agents. The dynamics of the system is controlled by two parameters. One parameter expresses the growth capacity of the agents and the other describes the local environmental pressure. For some values of the parameters, the system exhibits nontrivial collective behavior, characterized by macroscopic periodic oscillations of the average wealth of the system, emerging out of local chaos. The probability distribution of wealth in the asymptotic regime shows a power law behavior for some ranges of parameters.

Keywords

EUROPEAN Physical Journal Special Topic Venezuela Deterministic System Economic Dynamic Wealth Distribution 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© EDP Sciences/Società Italiana di Fisica/Springer-Verlag 2007

Authors and Affiliations

  • J. R. Sánchez
    • 1
  • J. González-Estévez
    • 2
    • 3
  • R. López-Ruiz
    • 4
  • M. G. Cosenza
    • 3
  1. 1.Facultad de Ingeniería, Universidad Nacional de Mar del PlataMar del PlataArgentina
  2. 2.Laboratorio de Física Aplicada y ComputacionalUniversidad Nacional Experimental del TáchiraSan CristobalVenezuela
  3. 3.Centro de Física Fundamental, Universidad de Los AndesMéridaVenezuela
  4. 4.Facultad de Ciencias, DIIS and BIFI, Universidad de ZaragozaZaragozaSpain

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