44. A chaotic agricultural growth model

Author: Vesna D. Jablanovic

DOI: n/a

Resume

Chaos embodies three important principles: (i) extreme sensitivity to initial conditions; (ii) cause and effect are not proportional; and (iii) nonlinearity.
The basic aim of this paper is to provide a relatively simple agricultural growth model that is capable of generating stable equilibria, cycles, or chaos depending on parmeter values.
A key hypothesis of this work is based on the idea that the coefficient π=β/(α-β) plays a crucial role in explaining local agricultural stability, where α – coefficient of marginal labour productivity in agriculture; β — coefficient of average labour productivity in agriculture.