Hopf Bifurcation in a Cobweb Model with Discrete Time Delays

Figure 1

Stability and instability regions in (𝛽,𝜏) space are depicted in green and blue, respectively. According to Theorem 5, on the left of the dotted line the equilibrium is locally asymptotically stable for any 𝜏. Parameter set: 𝛼=0.4, 𝑐=0.77, 𝑛=1, and 𝑏=0.3.