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On Dynamical Behaviors and Chaos Control of the Fractional-Order Financial System

On Dynamical Behaviors and Chaos Control of the Fractional-Order Financial System
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Author(s): Ahmed Sadek Hegazi (Mansoura University, Egypt), El-Sayed Mohamed Ahmed (Mansoura University, Egypt)and Ahmed Ezzat Matouk (Majmaah University, Saudi Arabia)
Copyright: 2013
Pages: 16
Source title: Chaos and Complexity Theory for Management: Nonlinear Dynamics
Source Author(s)/Editor(s): Santo Banerjee (Politecnico di Torino, Italy)
DOI: 10.4018/978-1-4666-2509-9.ch002

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Abstract

In this work, the authors investigate the stability conditions in a fractional-order financial system using the fractional Routh-Hurwitz criteria. According to the qualitative theory, the existence and uniqueness of solutions for a class of commensurate fractional-order financial systems are investigated. A necessary condition for this system to remain chaotic is obtained. It is found that chaos exists in this system with order less than three. Furthermore, the fractional Routh-Hurwitz conditions are used to control chaos in the proposed fractional-order system to its equilibria via linear feedback control method. Then, it is shown that the fractional-order financial system is controllable just in the fractional-order case when using a specific choice of linear controllers. Numerical simulations are used to verify the analytical results.

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