ABSTRACT
It has beenmore than 20 years since ideas fromdeterministic chaos began appearing in the economics literature. Economists began to look at chaotic analyses of the late 1970s and the 1980s, including important works such as those by Medio (1979), Stutzer (1980), Benhabib and Day (1981), Day (1982), and Grandmont(1985), just to name a few. A common feature of chaos models is that nonlinear dynamics tend to arise as the result of relaxing the assumptions underlying the competitive market general equilibrium approach (Faggini, 2009).
