Analysis of nonlinear dynamics and chaos in a fractional order financial system with time delay

Authors:
Zhen Wang;Xia Huang;Guodong Shi
Affiliations:
School of Automation, Nanjing University of Science and Technology, Nanjing 210094, China and College of Information Science and Engineering, Shandong University of Science and Technology, Qingdao ...;College of Information and Electrical Engineering, Shandong University of Science and Technology, Qingdao 266510, China;School of Information Science and Engineering, Changzhou University, Changzhou 213164, China
Venue:
Computers & Mathematics with Applications
Year:
2011

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Abstract

In this paper, a delayed fractional order financial system is proposed and the complex dynamical behaviors of such a system are discussed by numerical simulations. A great variety of interesting dynamical behaviors of such a system including single-periodic, multiple-periodic, and chaotic motions are displayed. In particular, the effect of time delay on the chaotic behavior is investigated, it is found that an approximate time delay can enhance or suppress the emergence of chaos. Meanwhile, corresponding to different values of delay, the lowest orders for chaos to exist in the delayed fractional order financial systems are determined, respectively.