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The study of the chaotic behavior in retailer’s demand model. (English) Zbl 1158.91419
Summary: Based on the work of domestic and foreign scholars and the application of chaotic systems theory, this paper presents an investigation simulation of retailer’s demand and stock. In simulation of the interaction, the behavior of the system exhibits deterministic chaos with consideration of system constraints. By the method of space’s reconstruction, the maximal Lyapunov exponent of retailer’s demand model was calculated. The result shows the model is chaotic. By the results of bifurcation diagram of model parameters k,r and changing initial condition, the system can be led to chaos.
MSC:
91B42Consumer behavior, demand theory
37D45Strange attractors, chaotic dynamics
37N40Dynamical systems in optimization and economics