We consider a piecewise linear two-dimensional dynamical system that couples a linear equation with the so-called a hysteresis stop operator. Global dynamics and bifurcations of this system are studied depending on two parameters. More complicated systems involving stop operators may have potential applications in the economic modeling of agents that display frictions and memory dependence.
Scopus subject areas
- Modelling and Simulation
- Dynamic stochastic general equilibrium model
- Piecewise linear system
- Stop operator