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Deterministic Chaos in Economics: An Occurrence in Axiomatic Utility Theory

  • Paul A. Samuelson

Abstract

Edward N. Lorenz, MIT meteorologist, made a pivotal analytical breakthrough when he discovered in 1963 deterministic chaos (Lorenz, 1963). Previously scholars tended to regard stochastic and deterministic models as distinct categories, mutually exclusive. Now we know better.

Keywords

Equilibrium Point Periodic Motion Strange Attractor Stable Limit Cycle Deterministic Chaos 
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

© Kumaraswamy Velupillai 1990

Authors and Affiliations

  • Paul A. Samuelson

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