On the Price Dynamics of a Two-Dimensional Financial Market Model with Entry Levels

<div>The stable and unstable manifolds of flip saddle <span class="nowrap"><svg height="11.8174pt" id="M253" style="vertical-align:-3.1815pt" version="1.1" viewbox="-0.0498162 -8.6359 18.7812 11.8174" width="18.7812pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M699 369C699 549 575 666 407 666C186 666 23 488 23 278C23 101 145 -16 312 -16C535 -16 699 153 699 369ZM600 373C600 210 500 19 321 19C186 19 120 129 120 272C120 450 232 631 399 631C541 631 600 522 600 373Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,9.061,3.132)"><path d="M1006 650H829L492 147L357 650H174L166 618C270 609 275 601 247 502L194 315C158 189 136 127 122 96C104 56 80 37 18 32L12 0H256L263 32C181 40 176 51 183 98C188 132 197 179 226 281L299 541H301L433 6H458L809 551H811L753 141C739 41 734 39 650 32L642 0H917L923 32C836 39 827 41 839 142L887 535C896 610 901 612 997 618L1006 650Z"></path></g></svg>.</span> (a) For <svg height="12.2284pt" id="M254" style="vertical-align:-0.6370001pt" version="1.1" viewbox="-0.0498162 -11.5914 31.1261 12.2284" width="31.1261pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M352 391C352 416 319 448 267 448C236 448 173 423 147 400C107 364 96 332 96 304C96 248 143 210 193 181C241 153 258 124 258 100C258 72 232 38 184 38C151 38 107 66 81 108C77 114 64 116 55 111C34 99 23 84 23 65C23 29 81 -12 134 -12C220 -12 325 61 325 141C325 184 297 215 234 256C194 282 161 309 161 346C161 380 188 401 217 401C255 401 279 380 301 353C308 344 313 341 325 347C341 355 352 371 352 391Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,4.875,-5.741)"><path d="M414 144C384 79 371 75 317 75H135L276 221C367 316 408 376 408 465C408 570 327 635 237 635C179 635 131 609 100 575L42 494L67 471C94 510 138 565 205 565C277 565 321 517 321 435C321 348 258 270 195 195C146 137 88 81 33 26V0H411C423 44 433 88 446 135L414 144Z"></path></g><g transform="matrix(.013,0,0,-0.013,13.454,0)"><path d="M512 230V281L75 514V456L453 256V254L75 55V-3L512 230Z"></path></g><g transform="matrix(.013,0,0,-0.013,24.716,0)"><path d="M241 635C89 635 35 457 35 312C35 153 89 -12 240 -12C390 -12 443 166 443 312C443 466 390 635 241 635ZM238 602C329 602 354 454 354 312C354 172 330 22 240 22C152 22 124 173 124 313S148 602 238 602Z"></path></g></svg> and (b) for <span class="nowrap"><svg height="12.2284pt" id="M255" style="vertical-align:-0.6370001pt" version="1.1" viewbox="-0.0498162 -11.5914 31.1261 12.2284" width="31.1261pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M352 391C352 416 319 448 267 448C236 448 173 423 147 400C107 364 96 332 96 304C96 248 143 210 193 181C241 153 258 124 258 100C258 72 232 38 184 38C151 38 107 66 81 108C77 114 64 116 55 111C34 99 23 84 23 65C23 29 81 -12 134 -12C220 -12 325 61 325 141C325 184 297 215 234 256C194 282 161 309 161 346C161 380 188 401 217 401C255 401 279 380 301 353C308 344 313 341 325 347C341 355 352 371 352 391Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,4.875,-5.741)"><path d="M414 144C384 79 371 75 317 75H135L276 221C367 316 408 376 408 465C408 570 327 635 237 635C179 635 131 609 100 575L42 494L67 471C94 510 138 565 205 565C277 565 321 517 321 435C321 348 258 270 195 195C146 137 88 81 33 26V0H411C423 44 433 88 446 135L414 144Z"></path></g><g transform="matrix(.013,0,0,-0.013,13.454,0)"><path d="M512 -3V55L134 254V256L512 456V514L75 281V230L512 -3Z"></path></g><g transform="matrix(.013,0,0,-0.013,24.716,0)"><path d="M241 635C89 635 35 457 35 312C35 153 89 -12 240 -12C390 -12 443 166 443 312C443 466 390 635 241 635ZM238 602C329 602 354 454 354 312C354 172 330 22 240 22C152 22 124 173 124 313S148 602 238 602Z"></path></g></svg>.</span></div>

Complexity

fig5

Figure 5

Figure 5: On the Price Dynamics of a Two-Dimensional Financial Market Model with Entry Levels 