Global Hopf Bifurcation Analysis for a Time-Delayed Model of Asset Prices

Figure 2

Hopf bifurcation branches through the centers (𝑣,𝜏_𝑗,2𝜋/𝜔₀). (a) on the (𝜏,𝑑)-plane, where 𝑑=max𝑝(𝑡)−min𝑝(𝑡); (b) on the (𝜏,𝑇(𝜏))-plane, where 𝑇(𝜏) is the period of periodic solution bifurcated at 𝑣.

(a)

(b)