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Mathematical Modelling of Systems Volume 2, 1996 - Issue 3
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Original Articles

Persistent oscillations in a threshold adjustment model

Feichtinger Gustav Institute of Econometrics, Operations Research and Systems Analysis, Vienna University of Technology, AustriaArgent inierstraße 8/119, A-1040 Vienna
&
Andreas J. Novak Department of Statistics, Operations Research and Computer Science, University of Vienna, AustriaUniver-sitatsstraBe 5/9, A-1010 Vienna
Pages 197-211 | Published online: 30 Mar 2007
 
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Abstract

In this paper we present a simple time-continuous behavioural model of habit formation. Addictive behaviour is damped by a threshold which adapts itself to the habit. This adaptive behaviour of the threshold may lead to periodic fluctuations of the consumption rate, the habit and the threshold. It turns out that both a low adjustment rate of the threshold as well as a steep consumption function favour oscillatory patterns.

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