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

Figure 6

(a) Unconnected basin of attraction of the origin for the following parameter values: 𝛽=0.9, 𝑠_𝑤=0.1, 𝑠_𝑟=0.7, 𝑝=15, 𝛿=0.2, 𝑛=0.5, and 𝛼=0.32. (b) After the final bifurcation the origin attracts the trajectory starting from the maximum point for 𝛼=0.34.

(a)

(b)