A physicist’s approach to phase controlling chaotic economic models
Authors: Arecchi F.T., Meucci R., Salvadori F., Acampora D., Al-Naimee K.
Autors Affiliation: University of Firenze and INO (Istituto Nazionale di Ottica), Italy; Department of Physics, University of Firenze, Firenze, Italy; CNR – Istituto Nazionale di Ottica, Firenze, Italy
Abstract: We present a multi-frequency phase control able to preserve a periodic behaviour within a chaotic window as well as to re-excite chaotic behaviour when it is destroyed. The validity of this non feedback method has been shown in the cobweb model with adaptive price expectations as well as in the quadratic map near an interior crisis. A crucial role is played by the phase of the applied periodic perturbations.
KeyWords: Choas; Complexity; Econophysics