This volume explores nonlinear dynamics in mathematical economic modelling. The formation of spatial patterns, such as market areas, trade flows and settlement structures, are studied. The basic approach is to study the qualitative features of the structurally stable pattern by means of the generic theory of differential equations, as well as their transformations by means of catastrophe theory. The main part dwells on business cycle theory, using a family of non-linear multiplier accelerator models put in spatial setting ...
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This volume explores nonlinear dynamics in mathematical economic modelling. The formation of spatial patterns, such as market areas, trade flows and settlement structures, are studied. The basic approach is to study the qualitative features of the structurally stable pattern by means of the generic theory of differential equations, as well as their transformations by means of catastrophe theory. The main part dwells on business cycle theory, using a family of non-linear multiplier accelerator models put in spatial setting by inter-regional trade. The models are capable of producing sustained frequency locked oscillation, quasi-periodicity and chaos. A mixture of analytical methods, such as perturbation analysis, and heuristic simulations is used. The third edition has been thoroughly revised and considerably expanded, in particular with reference to the study of chaotic behaviour.
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