Assessing the Local Stability Properties of Discrete Three-Dimensional Dynamical Systems: A Geometrical Approach with Triangles and Planes and an Application with Some Cones

Book section: The difficulties associated with the appraisal of the determinacy properties of a three-dimensional system are circumvented by the introduction of a new geometrical argument. It brings about a complete typology of the eigenvalues moduli in discrete time three-dimensional dynamical systems and then provides a new apparatus for assessing from a geometrical standpoint the emergence of local bifurcations for parameterised economies. The argument is considered through the extensive characterisation of the stability properties of a benchmark model of inter-temporal economic analysis.

Author(s)

Jean-Pierre Drugeon, Jean-Paul Barinci

Title of the work
  • Studies in Economic Theory
Date of publication
  • 2017
Keywords
  • Discrete time dynamical systems
  • Geometrical approach
  • Parameterised economies
Version
  • 1