Journal of Economic Perspectives: Vol. 3 No. 1 (Winter 1989)


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Chaos: Significance, Mechanism, and Economic Applications

Article Citation

Baumol, William J., and Jess Benhabib. 1989. "Chaos: Significance, Mechanism, and Economic Applications." Journal of Economic Perspectives, 3(1): 77-105.

DOI: 10.1257/jep.3.1.77


Chaos has become a subject of great interest to specialists and nonspecialists alike. Besides economics, it has entered the literature of geometry, physics, ecology and meteorology. This article seeks to describe what it is, how it works, and what it means for economics.

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Baumol, William J. (Unlisted)
Benhabib, Jess (Unlisted)

JEL Classifications

213: Mathematical Methods and Models--General
131: Economic Fluctuations--Theory


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