Local and Global Dynamics in a Discrete Time Growth Model with Nonconcave Production Function

Figure 10

Two dimensional bifurcation diagrams of map 𝐹 in the plain (𝛼,𝑝) for the following parameter values: 𝛿=0.2, 𝑠_𝑟=0.7, 𝑠_𝑤=0.1, 𝛽=0.9, 𝑛=0.5; (a) the initial condition is 𝑘_𝑀; (b) the initial condition is 𝑘_𝑚.

(a)

(b)