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10 - A little bit of chaos

Published online by Cambridge University Press:  05 June 2012

Ronald Shone
Affiliation:
University of Stirling
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Summary

Introduction

One of the most recent advances in Mathematics has been the subject of chaos theory. One might recall in the Spielberg film, Jurassic Park, the mathematician trying to explain chaos with a drop of water over the back of the hand of one of the other scientists. The second drop, when dropped as close to the first as possible, would still very soon move off the hand in a different direction. This is a very useful account of the way dynamic systems can become drastically different from some very small change in the initial condition. What is important about this is that even if the system is deterministic it can still give the impression of being chaotic. Chaos does not require something to have a random nature. If something is purely random, then it is impossible to predict. A deterministic system, on the other hand, is completely predictable. However, if the system is very sensitive to the initial conditions, and moves quite differently for different initial conditions – even if these are extremely close together – then to all intents and purposes the system becomes unpredictable.

One may wonder why scientists have only just discovered such chaos. Part of the reason is that these chaotic systems occur only in the presence of nonlinearity, and scientists have only recently turned their attention to nonlinear systems. Even very simple nonlinear deterministic systems can exhibit chaos.

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Publisher: Cambridge University Press
Print publication year: 2001

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  • A little bit of chaos
  • Ronald Shone, University of Stirling
  • Book: An Introduction to Economic Dynamics
  • Online publication: 05 June 2012
  • Chapter DOI: https://doi.org/10.1017/CBO9781139164733.011
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  • A little bit of chaos
  • Ronald Shone, University of Stirling
  • Book: An Introduction to Economic Dynamics
  • Online publication: 05 June 2012
  • Chapter DOI: https://doi.org/10.1017/CBO9781139164733.011
Available formats
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Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • A little bit of chaos
  • Ronald Shone, University of Stirling
  • Book: An Introduction to Economic Dynamics
  • Online publication: 05 June 2012
  • Chapter DOI: https://doi.org/10.1017/CBO9781139164733.011
Available formats
×