UNCERTAIN AND STOCHASTIC FINANCIAL MODELS WITH MULTIPLE DELAYS

Abstract

This paper studies the autonomous uncertain and stochastic systems with multiple delays, which describe a financial system involving the interest rate, the investment demand and the price index. For the deterministic model associated to the uncertain financial system, we set the conditions for the existence of the delay parameter value for which the model displays a Hopf bifurcation. For the stochastic system, we identify the differential equations for the mean value as well as for the square mean value. The last part of the paper includes numerical simulations and conclusions.