- Open Access
Global exponential stability for a delay differential neoclassical growth model
© Chen and Wang; licensee Springer. 2014
Received: 30 September 2014
Accepted: 5 December 2014
Published: 16 December 2014
This paper aims to analyze the stability of the positive equilibrium of a delay differential neoclassical growth model. We prove the existence, positivity and permanence of solutions which help to deduce the global exponential stability of the unique positive equilibrium for this model. Our method relies upon the differential inequality technique and the Lyapunov functional. Moreover, we give an example with numerical simulations to demonstrate theoretical results.
where x is the capital per labor, is the average propensity to save and with μ being the depreciation ratio of capital and n being the growth rate of labor; the mound-shaped production function (a, b and A are positive parameters) is of Cobb-Douglas type, and the factor reflects the influence of pollution on per capita output.
where α, γ, δ, are positive parameters, τ is the delay in the production process, γ can be thought of as a proxy for measuring returns to scale of the production function, δ reflects a strength of a ‘negative effect’ caused by increasing concentration of capital and is determined by a damaging degree of natural environment or energy resources. From the analysis of , when , model (1.2) has one (two) positive equilibrium(s) provided (>0), where , and when , model (1.2) has a unique positive equilibrium. In particular, if , then model (1.2) is well-known Nicholson’s blowflies model  and it has a unique positive equilibrium under the condition . Recently, there have been a lot of results on Nicholson’s blowflies model, and we refer readers to [11–19] and the references cited therein for more details. However, to the best of our knowledge, there is not much work on model (1.2) when . Although they have considered the local asymptotical stability of the positive equilibrium of model (1.1) and (1.2) in [8, 9], the results on the permanence and global stability of the delay differential neoclassical model do not appear heretofore.
Motivated by the above discussions, in this paper we mainly study the global exponential stability of the unique positive equilibrium of model (1.2) with .
Throughout this paper, let denote a nonnegative real number space, be the Banach space of the set of all continuous functions from to R equipped with supremum norm and . Furthermore, for a continuous function x defined on with , we define by for .
Then f is a locally Lipschitz map with respect to , which ensures the existence and uniqueness of the solution of (1.2) with admissible initial condition (1.4).
We write (i.e. ) for an admissible solution of admissible initial value problem (1.2) and (1.4). Also, let be the maximal right interval of the existence of .
An outline of this paper is as follows. We devote Section 2 to some lemmas and definitions on the existence, positivity and permanence of solutions, which play an important role in Section 3 to establish the global exponential stability of the positive equilibrium. In Section 4, an example and its numerical simulations are provided to illustrate our results obtained in the previous sections. The last section concludes the paper.
2 Preliminary results
In this section, we present some lemmas and definitions to prove our main results in Section 3.
then is said to be globally exponentially stable.
Lemma 2.1 There exists a unique positive global solution of model (1.2) and (1.4) on the interval .
for all .
It remains to show .
which excludes the possibility that . Hence it violates Theorem 2.3.1 in . So we obtain the existence of the unique global positive solution of (1.2) and (1.4) on . Therefore Lemma 2.1 is proved. □
which obviously contradicts with (2.2). Thus, we have proved that .
which contradicts with (2.2). This proves that . Hence the proof of Lemma 2.2 is completed. □
3 Main results
In this section, we establish sufficient conditions on the global exponential stability for the unique positive equilibrium of model (1.2).
This completes the proof of Theorem 3.1. □
4 An example
In this section, we give an example and its numerical simulations in order to support the results obtained in previous sections.
Obviously, , , , .
Remark 4.1 To the best of our knowledge, few authors have considered the global exponential stability of the unique positive equilibrium for model (1.2). It is clear that all the results in [8, 9] and the references therein cannot be applicable to prove that all solutions to model (4.1) with initial value (1.4) converge exponentially to the positive equilibrium. So the results of this paper are essentially new and complement the work of Matsumoto and Szidarovszky [8, 9].
In the paper, we have studied a special delay differential neoclassical model. A mound-shaped production for capital growth and the delay in the production process are assumed in the dynamic equation. We have established some criteria to ensure the global exponential stability of the unique positive equilibrium for model (1.2) with . In the future, we will investigate model (1.2) with since it has more complex dynamic behavior and there possibly exist two positive equilibria.
This work was supported by the National Natural Science Foundation of China (Grant Nos. 11301341, 11201184) and Innovation Program of Shanghai Municipal Education Commission (Grant No. 13YZ127).
- Day R: Irregular growth cycles. Am. Econ. Rev. 1982, 72: 406-414.Google Scholar
- Day R: The emergence of chaos from classical economic growth. Q. J. Econ. 1983, 98: 203-213.View ArticleMathSciNetGoogle Scholar
- Solow R: A contribution to the theory of economic growth. Q. J. Econ. 1956, 70: 65-94. 10.2307/1884513View ArticleGoogle Scholar
- Swan T: Economic growth and capital accumulation. Econ. Rec. 1956, 32: 334-361. 10.1111/j.1475-4932.1956.tb00434.xView ArticleGoogle Scholar
- Day R: Complex Economic Dynamics: An Introduction to Dynamical Systems and Market Mechanism. MIT Press, Cambridge; 1994.MATHGoogle Scholar
- Puu T: Attractions, Bifurcations and Chaos: Nonlinear Phenomena in Economics. 2nd edition. Springer, Berlin; 2003.View ArticleMATHGoogle Scholar
- Bischi GI, Chiarella C, Kopel M, Szidarovszky F: Nonlinear Oligopolies: Stability and Bifurcation. Springer, Berlin; 2010.View ArticleMATHGoogle Scholar
- Matsumoto A, Szidarovszky F: Delay differential neoclassical growth model. J. Econ. Behav. Organ. 2011, 78: 272-289. 10.1016/j.jebo.2011.01.014View ArticleGoogle Scholar
- Matsumoto A, Szidarovszky F: Asymptotic behavior of a delay differential neoclassical growth model. Sustainability 2013, 5: 440-455. 10.3390/su5020440View ArticleGoogle Scholar
- Gurney W, Blythe S, Nisbet R: Nicholson’s blowflies revisited. Nature 1980, 287: 17-21. 10.1038/287017a0View ArticleGoogle Scholar
- Chen Y: Periodic solutions of delayed periodic Nicholson’s blowflies models. Can. Appl. Math. Q. 2003, 11: 23-28.MathSciNetMATHGoogle Scholar
- Berezansky L, Braverman E, Idels L: Nicholson’s blowflies differential equations revisited: main results and open problems. Appl. Math. Model. 2010, 34: 1405-1417. 10.1016/j.apm.2009.08.027MathSciNetView ArticleMATHGoogle Scholar
- Chen W, Liu B: Positive almost periodic solution for a class of Nicholson’s blowflies model with multiple time-varying delays. J. Comput. Appl. Math. 2011, 235: 2090-2097. 10.1016/j.cam.2010.10.007MathSciNetView ArticleMATHGoogle Scholar
- Wang W, Wang L, Chen W: Existence and exponential stability of positive almost periodic solution for Nicholson-type delay systems. Nonlinear Anal., Real World Appl. 2011, 12: 1938-1949. 10.1016/j.nonrwa.2010.12.010MathSciNetView ArticleMATHGoogle Scholar
- Wang W: Positive periodic solutions of delayed Nicholson’s blowflies models with a nonlinear density-dependent mortality term. Appl. Math. Model. 2012, 36: 4708-4713. 10.1016/j.apm.2011.12.001MathSciNetView ArticleMATHGoogle Scholar
- Wang L: Almost periodic solution for Nicholson’s blowflies model with patch structure and linear harvesting terms. Appl. Math. Model. 2013, 37: 2153-2165. 10.1016/j.apm.2012.05.009MathSciNetView ArticleGoogle Scholar
- Yi T, Zou X: Global attractivity of the diffusive Nicholson blowflies equation with Neumann boundary condition: a non-monotone case. J. Differ. Equ. 2008, 245: 3376-3388. 10.1016/j.jde.2008.03.007MathSciNetView ArticleMATHGoogle Scholar
- Shu H, Wang L, Wu J: Global dynamics of Nicholson’s blowflies equation revisited: onset and termination of nonlinear oscillations. J. Differ. Equ. 2013, 255: 2565-2586. 10.1016/j.jde.2013.06.020MathSciNetView ArticleMATHGoogle Scholar
- Liu B: Global exponential stability of positive periodic solutions for a delayed Nicholson’s blowflies model. J. Math. Anal. Appl. 2014, 412: 212-221. 10.1016/j.jmaa.2013.10.049MathSciNetView ArticleMATHGoogle Scholar
- Smith HL Math. Surveys Monogr. In Monotone Dynamical Systems. Am. Math. Soc., Providence; 1995.Google Scholar
- Hale J, Verduyn Lunel S Applied Mathematical Sciences 99. In Introduction to Functional Differential Equations. Springer, New York; 1993.View ArticleGoogle Scholar
- Hale J: Ordinary Differential Equations. Wiley-Interscience, New York; 1980.MATHGoogle Scholar
This article is published under license to BioMed Central Ltd. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly credited.