E&F Chaos : A User Friendly Software Package for Nonlinear Economic Dynamics

The use of nonlinear dynamic models in economics and finance has expanded rapidly in the last two decades. Numerical simulation is crucial in the investigation of nonlinear systems. E&F Chaos is an easy-to-use and freely available software package for simulation of nonlinear dynamic models to in...

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Main Authors:	Diks, Cees, Hommes, Cars, Panchenko, Valentyn, van der Weide, Roy
Format:	Journal Article
Language:	EN
Published:	2012
Subjects:	Optimization Techniques Programming Models Dynamic Analysis C610 Econometric Software C870
Online Access:	http://hdl.handle.net/10986/5651

id	okr-10986-5651
recordtype	oai_dc
spelling	okr-10986-56512021-04-23T14:02:23Z E&F Chaos : A User Friendly Software Package for Nonlinear Economic Dynamics Diks, Cees Hommes, Cars Panchenko, Valentyn van der Weide, Roy Optimization Techniques Programming Models Dynamic Analysis C610 Econometric Software C870 The use of nonlinear dynamic models in economics and finance has expanded rapidly in the last two decades. Numerical simulation is crucial in the investigation of nonlinear systems. E&F Chaos is an easy-to-use and freely available software package for simulation of nonlinear dynamic models to investigate stability of steady states and the presence of periodic orbits and chaos by standard numerical simulation techniques such as time series, phase plots, bifurcation diagrams, Lyapunov exponent plots, basin boundary plots and graphical analysis. The package contains many well-known nonlinear models, including applications in economics and finance, and is easy to use for non-specialists. New models and extensions or variations are easy to implement within the software package without the use of a compiler or other software. The software is demonstrated by investigating the dynamical behavior of some simple examples of the familiar cobweb model, including an extension with heterogeneous agents and asynchronous updating of strategies. Simulations with the E&F Chaos software quickly provide information about local and global dynamics and easily lead to challenging questions for further mathematical analysis. 2012-03-30T07:33:52Z 2012-03-30T07:33:52Z 2008 Journal Article Computational Economics 09277099 http://hdl.handle.net/10986/5651 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	EN
topic	Optimization Techniques Programming Models Dynamic Analysis C610 Econometric Software C870
spellingShingle	Optimization Techniques Programming Models Dynamic Analysis C610 Econometric Software C870 Diks, Cees Hommes, Cars Panchenko, Valentyn van der Weide, Roy E&F Chaos : A User Friendly Software Package for Nonlinear Economic Dynamics
relation	http://creativecommons.org/licenses/by-nc-nd/3.0/igo
description	The use of nonlinear dynamic models in economics and finance has expanded rapidly in the last two decades. Numerical simulation is crucial in the investigation of nonlinear systems. E&F Chaos is an easy-to-use and freely available software package for simulation of nonlinear dynamic models to investigate stability of steady states and the presence of periodic orbits and chaos by standard numerical simulation techniques such as time series, phase plots, bifurcation diagrams, Lyapunov exponent plots, basin boundary plots and graphical analysis. The package contains many well-known nonlinear models, including applications in economics and finance, and is easy to use for non-specialists. New models and extensions or variations are easy to implement within the software package without the use of a compiler or other software. The software is demonstrated by investigating the dynamical behavior of some simple examples of the familiar cobweb model, including an extension with heterogeneous agents and asynchronous updating of strategies. Simulations with the E&F Chaos software quickly provide information about local and global dynamics and easily lead to challenging questions for further mathematical analysis.
format	Journal Article
author	Diks, Cees Hommes, Cars Panchenko, Valentyn van der Weide, Roy
author_facet	Diks, Cees Hommes, Cars Panchenko, Valentyn van der Weide, Roy
author_sort	Diks, Cees
title	E&F Chaos : A User Friendly Software Package for Nonlinear Economic Dynamics
title_short	E&F Chaos : A User Friendly Software Package for Nonlinear Economic Dynamics
title_full	E&F Chaos : A User Friendly Software Package for Nonlinear Economic Dynamics
title_fullStr	E&F Chaos : A User Friendly Software Package for Nonlinear Economic Dynamics
title_full_unstemmed	E&F Chaos : A User Friendly Software Package for Nonlinear Economic Dynamics
title_sort	e&f chaos : a user friendly software package for nonlinear economic dynamics
publishDate	2012
url	http://hdl.handle.net/10986/5651
_version_	1764395821723287552

E&F Chaos : A User Friendly Software Package for Nonlinear Economic Dynamics

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