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Hopf Bifurcations in a Delayed Microscopic Model of Credit Risk Contagion |
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PP: 1493-1497 |
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Author(s) |
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Carlo Bianca,
Luca Guerrini,
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Abstract |
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| This paper is concerned with the proof of the existence of Hopf bifurcations in a mathematical model recently proposed in
[T. Chen, X. Li, and J. He, Abstract and Applied Analysis 2014, 456764 (2014)] for understanding the complex stochastic dynamics
phenomena of credit risk contagion in the financial market. Specifically the model consists in an ordinary differential equation with
time-delay. Moreover, by using the normal form theory and center manifold argument, the stability, direction, and period of bifurcating
periodic solutions are gained. |
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