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HOPF BIFURCATION IN A DELAYED RAMSEY MODEL WITH VON BERTALANFFY POPULATION LAW

Luca Guerrini

Abstract


We analyze a modified version of the Ramsey model with a lag between investment and production. The associated characteristic equation contains an additional exponential factor that opening up the possibility of complex roots. The existence of a Hopf bifurcation near the positive equilibrium is demonstrated.

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