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On the Dalgaard-Strulik Model with Logistic Population Growth Rate and Delayed-Carrying Capacity.
- Source :
- Acta Applicandae Mathematicae; Dec2013, Vol. 128 Issue 1, p39-48, 10p
- Publication Year :
- 2013
-
Abstract
- Recently Dalgaard and Strulik have proposed (in Resour. Energy Econ. 33:782–797, 2011 ) an energy model of capital accumulation based on the mathematical framework developed by Solow-Swan and coupled with Cobb-Douglas production function (Solow in Q. J. Economics 70:65–94, 1956 ; Swan in Econ. Rec. 32(63):334–361, 1956 ). The model is based on a constant rate of population growth assumption. The present paper, according to the analysis performed by Yukalov et al. (Physica D 238:1752–1767, 2009 ), improves the Dalgaard-Strulik model by introducing a logistic-type equation with delayed carrying capacity which alters the asymptotic stability of the relative steady state. Specifically, by choosing the time delay as a bifurcation parameter, it turns out that the steady state loses stability and a Hopf bifurcation occurs when time delay passes through critical values. The results are of great interest in the applied and theoretical economics. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 01678019
- Volume :
- 128
- Issue :
- 1
- Database :
- Complementary Index
- Journal :
- Acta Applicandae Mathematicae
- Publication Type :
- Academic Journal
- Accession number :
- 91859807
- Full Text :
- https://doi.org/10.1007/s10440-013-9800-0