Title: Chaos in a fractional-order financial system

Authors: A.A. Khajehnasiri; M. Afshar Kermani; R. Ezzati

Addresses: Department of Mathematics, North Tehran Branch, Islamic Azad University, Tehran, Iran ' Department of Mathematics, North Tehran Branch, Islamic Azad University, Tehran, Iran ' Department of Mathematics, Karaj Branch, Islamic Azad University, Karaj, Iran

Abstract: In this paper, a fractional order financial system is proposed, and the complex dynamical behaviours of such a system are discussed by numerical simulations. We present a method for solving chaos in fractional-order financial system. Also, we derive the Hat function operational matrix of the fractional order integration and use it to solve the fractional-order financial system. To demonstrate the validity of the presented developments, three numerical simulations are given to verify the effectiveness of the proposed method.

Keywords: chaos; Hat functions; fractional calculus; block pulse function; BPF; operational matrix; state space.

DOI: 10.1504/IJMOR.2020.110028

International Journal of Mathematics in Operational Research, 2020 Vol.17 No.3, pp.318 - 332

Received: 24 Jul 2018
Accepted: 16 Jun 2019
Published online: 01 Oct 2020 *

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