Dynamic analysis of a novel time‐lag four‐dimensional fractional‐order financial system. Issue 1 (15th December 2019)

• Record Type: Journal Article
• Authors: Zhang, Zhe; Zhang, Jing; Cheng, Fanyong; Liu, Feng; Ding, Can
• Is Part Of: Asian journal of control. Volume 23:Issue 1(2021)
• Page Start: 536
• Page End: 547
• Publication Date: 2019-12-15
• Subjects: Bifurcation -- Financial system -- Fractional‐order system -- Stability; Automatic control -- Periodicals; Control theory -- Periodicals; 629.805
• DOI: 10.1002/asjc.2240
• Languages: English
• ISSNs: 1561-8625

Abstract

Abstract: In this paper, a novel four‐dimensional fractional‐order financial system (FFS) with time delay is presented. Unlike traditional bifurcation analysis of financial systems, the selection rules of two bifurcation points within the system are discussed. In addition, the motion state of the system in the vicinity of two bifurcation points are analyzed separately, such that the dynamic analysis of this novel nonlinear fourth‐dimensional FFS is more comprehensive. The detailed dynamical behaviors of this financial system, such as oscillation, stability, and bifurcation points, are deduced via rigorous mathematical analysis. Finally, some simulations are performed to verify the dynamic characteristics of the FFS around the two bifurcation points which satisfy the selection conditions of the bifurcation point.