Dynamical Behaviors and Chaos in a New Fractional-order Financial System

Abstract

This study examines some dynamical behaviors, in simulations of financial systems. A new fractional-order financial system is proposed in this study. It is a generalization of a dynamic financial model recently reported in the literature. The basic dynamical behaviors of this financial system are investigated, such as the equilibrium, stability. Furthermore, it has been found that chaos exists in the fractional-order financial systems. Numerical simulations are given to illustrate and verify the results.