Since 2014
Phase Space Reconstruction from Econommic Time Series Data: Improving Models of Complex Real-World Dynamic Systems
International Journal on Food System Dynamics
View Archive Info| Field | Value | |
| Title |
Phase Space Reconstruction from Econommic Time Series Data: Improving Models of Complex Real-World Dynamic Systems
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| Creator |
Huffaker, Ray
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| Subject |
phase space reconstruction; time series data; economic dynamics
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| Description |
Failure of economic models to anticipate the global financial crisis illustrates the need for modeling to better capture complex real-world dynamics. Conventional models—in which economic variables evolve toward equilibria or fluctuate about equilibria in response to exogenous random shocks—are ill-equipped to portray complex real-world dynamics in which economic variables may cycle aperiodically along low-dimensional ‘strange attractors’. We present a method developed in the physics literature—‘phase space reconstruction’—that reconstructs strange attractors present in real-world dynamical systems using time series data on a single variable. Phase space reconstruction provides pictures of real-world dynamics that can guide model specification.
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| Publisher |
CentMA
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| Contributor |
—
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| Date |
2010-09-15
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — |
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| Format |
application/pdf
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| Identifier |
http://centmapress.ilb.uni-bonn.de/ojs/index.php/fsd/article/view/132
10.18461/ijfsd.v1i3.132 |
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| Source |
International Journal on Food System Dynamics; Vol 1, No 3 (2010); 184-193
1869-6945 |
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| Language |
eng
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| Relation |
http://centmapress.ilb.uni-bonn.de/ojs/index.php/fsd/article/view/132/86
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