標題: Human capital externality and chaotic equilibrium dynamics
作者: Chen, Hung-Ju
Li, Ming-Chia
應用數學系
Department of Applied Mathematics
關鍵字: chaotic dynamics;externality;human capital accumulation
公開日期: 1-十二月-2008
摘要: This study develops a two-period overlapping generations model in which adults undertake educational investment decisions oil 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.
URI: http://dx.doi.org/10.1080/13873950802308901
http://hdl.handle.net/11536/8122
ISSN: 1387-3954
DOI: 10.1080/13873950802308901
期刊: MATHEMATICAL AND COMPUTER MODELLING OF DYNAMICAL SYSTEMS
Volume: 14
Issue: 6
起始頁: 571
結束頁: 586
顯示於類別:期刊論文


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  1. 000262854900005.pdf