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Details for article 3 of 6 found articles
| Title: |
Human capital externality and chaotic equilibrium dynamics |
| Author: |
Chen, Hung-Ju Li, Ming-Chia |
| Appeared in: |
Mathematical and computer modelling of dynamical systems |
| Paging: | Volume 14 (2008) nr. 6 pages 571-586 |
| Year: |
2008-12 |
| Contents: |
This study develops a two-period overlapping generations model in which adults undertake educational investment decisions on behalf of young agents. In addition to educational investment, we argue that the accumulation of human capital is also dependent upon the externality from average human capital within the economy. In a departure from the previous literature in this area, we assume that there is a reduction in the overall productivity of human capital accumulation brought about by human capital externality, and show that complicated dynamics will emerge under this circumstance. In addition to displaying the chaotic dynamics in the sense of Li and Yorke, we also verify the existence of Devaney's chaos and Smale's chaos. |
| Publisher: |
Taylor & Francis |
| Source file: |
Elektronische Wetenschappelijke Tijdschriften |
Details for article 3 of 6 found articles
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