Table of Contents
ISRN Applied Mathematics
Volume 2014, Article ID 375856, 6 pages
Research Article

On the Dynamics of an Oil Price Model

Departamento de Física-Matemática, Universidad de Los Andes, N. U. Rafael Rangel, Trujillo, 03150 Trujillo State, Venezuela

Received 31 December 2013; Accepted 25 January 2014; Published 5 March 2014

Academic Editors: Z. Huang and X. Liu

Copyright © 2014 Teodoro Lara. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.


We address the dynamic of an energy price model in a more general approach; to our knowledge, in previous works, different conditions are imposed on the energy price function at a particular value in order to characterize stability and unstability for real or complex eigenvalues. Nonexistence of periodic orbits is shown by means of Dulac’s criterion; we also exhibit some pictures of solutions. Finally we modify this model and apply it to some particular cases in Venezuela economy.