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

Figure 11

Bifurcation diagrams w.r.t. 𝛼 for different values of 𝑝 and for the following parameter values: 𝛿=0.2, 𝑠_𝑟=0.8, 𝑠_𝑤=0.1, 𝛽=0.9, 𝑛=0.5 and the initial condition 𝑘₀=𝑘_𝑚; (a) 𝑝=6; (b) 𝑝=7.5, (c) 𝑝=8, (d) 𝑝=15.

(a)

(b)

(c)

(d)