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Cantor type attractors in stochastic growth models

2005; Elsevier BV; Volume: 29; Issue: 3 Linguagem: Inglês

10.1016/j.chaos.2005.08.094

1873-2887

Tapan Mitra, Fabio Privileggi,

Caveolin-1 and cellular processes

We study a one-sector stochastic optimal growth model where production is affected by a shock taking one of two values. Such exogenous shock may enter multiplicatively or additively. A result is presented which provides sufficient conditions to ensure that the attractor of the iterated function system (IFS) representing the optimal policy, is a generalized topological Cantor set. To indicate the role of the strict monotonicity condition on the IFS in this result, examples of attractors, which are not of the Cantor type, are constructed with iterated function systems, whose maps are contractions and satisfy a no overlap property.