Delayed feedback control via minimum entropy strategy in an economic model

In this paper minimum entropy (ME) algorithm for controlling chaos, is applied to the Behrens–Feichtinger model, as a discrete-time dynamic system which models a drug market. The ME control is implemented through delayed feedback. It is assumed that the dynamic equations of the system are not known, so the proper feedback gain cannot be obtained analytically from the system equations. In the ME approach the feedback gain is obtained and adapted in such a way that the entropy of the system converges to zero, hence a fixed point of the system will be stabilized. Application of the proposed method with different economic control strategies is numerically investigated. Simulation results show the effectiveness of the ME method to control chaos in economic systems with unknown dynamic equations.

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