Saverio Di Giorno, Aura Reggiani
The use of predator-prey models in economics has a long history, and the model equations have largely evolved since the original Lotka-Volterra system towards more realistic descriptions of the economic dynamics of predation, competition, and synergy. Seminal examples in this regard are the business cycle model (Goodwin, 1967), chaotic hysteresis (Rosser, 1994), and the models of renewable resources (Clark, 1990). Given this background, this paper aims to analyse the mechanism of economic competition under different conditions, by adopting the unifying framework of niche models...
April 2024: Nonlinear Dynamics, Psychology, and Life Sciences