Chaos Control in Uncertain Economic Systems via Quasi Sliding Mode Method
In this paper the method of quasi-sliding mode control is introduced for stabilizing unstable fixed points of uncertain economic systems which show chaotic behavior. The control algorithm is presented, and the performance of proposed approach is examined by applying it to two economic models with chaotic behavior. The Behrens-Feichtinger and Cournot-Puu duopoly models as two chaotic economic systems are selected for this purpose. Simulation results show the effectiveness and feasibility of the method for chaos control in uncertain chaotic markets.