| Nonlinear Dynamics, Psychology, and Life Sciences, Vol. 11, Iss. 2, Apr, 2007, pp. 253-265 @2007 Society for Chaos Theory in Psychology & Life Sciences Transition of Chaotic Motion to a Limit Cycle by Intervention of Economic Policy: An Empirical Analysis in Agriculture Abstract: This paper investigates the transition of dynamics
observed in an actual real agricultural economic dataset.
Lyapunov spectrum analysis is conducted on the data to
distinguish deterministic chaos and the limit cycle.
Chaotic and periodic oscillation were identified before
and after the second oil crisis, respectively. The statitonarity
of the time series is investigated using recurrence plots.
This shows that government intervention might reduce market
instability by removing a chaotic market's long-term unpredictability. Keywords: chaos, nonlinear dynamics, recurrence plots, agricultural market |