A Stochastic Cobweb Dynamical Model

Figure 9

Trajectories produced by the stochastic process defined by (2.3) for 𝑃₀=0.5 with probability one, 𝜇=3.4, 𝛾=0.5, 𝑞=0.6, and different values of 𝜌: (a) 𝜌=0.01, (b) 𝜌=0.1, (c) 𝜌=0.2.

(a)

(b)

(c)