Hopf Bifurcation and Dynamic Analysis of an Improved Financial System with Two Delays

<div>Time series of system (<a href="https://static-preview.hindawi.com/articles/complexity/volume-2020/3734125/figures/#EEq3a">3a</a>)–(<a href="https://static-preview.hindawi.com/articles/complexity/volume-2020/3734125/figures/#EEq3a">3c</a>) with <svg height="15.4254pt" id="M253" style="vertical-align:-3.834pt" version="1.1" viewbox="-0.0498162 -11.5914 73.3614 15.4254" width="73.3614pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M471 456L444 459C426 433 414 430 388 430C324 430 270 434 216 434C103 434 51 374 23 338L43 317C96 366 146 380 221 375L154 109C149 86 147 68 147 52C147 4 168 -12 197 -12C240 -12 291 25 334 71L320 96C295 75 268 58 252 58C238 58 227 79 238 138C251 211 272 296 292 372C310 372 332 368 350 368C391 368 421 369 434 371C444 388 455 413 471 456Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,5.434,3.132)"><path d="M389 0V32C297 38 291 46 291 118V635C234 613 175 595 109 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transform="matrix(.013,0,0,-0.013,34.479,0)"><path d="M249 635C141 635 70 555 70 471C70 401 114 353 179 316C143 294 106 267 90 252C68 231 45 202 45 157C45 50 130 -12 237 -12C322 -12 435 52 435 169C435 256 372 304 303 343C349 374 375 398 383 407C401 429 411 458 411 487C411 569 344 635 249 635ZM238 603C285 603 337 567 337 482C337 422 310 385 276 358C205 393 145 426 145 500C145 552 179 603 238 603ZM248 20C183 20 125 70 125 163C125 218 158 268 206 300C284 261 355 217 355 143C355 66 308 20 248 20Z"></path></g></svg>:</span> (a) initial value <svg height="11.5564pt" id="M255" style="vertical-align:-2.26807pt" version="1.1" viewbox="-0.0498162 -9.28833 69.5633 11.5564" width="69.5633pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M300 -147C201 -63 143 98 143 270S200 602 300 686L282 710C136 610 70 450 70 271V270C70 89 136 -72 282 -170L300 -147Z"></path></g><g transform="matrix(.013,0,0,-0.013,4.498,0)"><path d="M248 635C97 635 43 457 43 311C43 153 97 -12 247 -12S450 166 450 312C450 466 397 635 248 635ZM246 603C337 603 361 452 361 312S337 20 248 20S132 172 132 313C132 452 156 603 246 603Z"></path></g><g transform="matrix(.013,0,0,-0.013,10.907,0)"><path d="M113 -12C146 -12 170 11 170 46C170 78 146 103 114 103S58 78 58 46C58 11 82 -12 113 -12Z"></path></g><g transform="matrix(.013,0,0,-0.013,13.906,0)"><path d="M241 635C89 635 35 457 35 312C35 153 89 -12 240 -12C390 -12 443 166 443 312C443 466 390 635 241 635ZM238 602C329 602 354 454 354 312C354 172 330 22 240 22C152 22 124 173 124 313S148 602 238 602Z"></path></g><g transform="matrix(.013,0,0,-0.013,20.146,0)"><path d="M384 0V27C293 34 287 42 287 114V635C232 613 172 594 109 583V559L157 557C201 555 205 550 205 499V114C205 42 199 34 109 27V0H384Z"></path></g><g transform="matrix(.013,0,0,-0.013,26.386,0)"><path d="M95 130C70 130 46 113 46 88C46 72 54 64 59 64C93 55 121 33 121 -3C121 -41 93 -68 44 -88L55 -117C117 -98 186 -56 186 22C186 91 131 130 95 130Z"></path></g><g transform="matrix(.013,0,0,-0.013,31.536,0)"><path d="M384 0V27C293 34 287 42 287 114V635C232 613 172 594 109 583V559L157 557C201 555 205 550 205 499V114C205 42 199 34 109 27V0H384Z"></path></g><g transform="matrix(.013,0,0,-0.013,37.776,0)"><path d="M95 130C70 130 46 113 46 88C46 72 54 64 59 64C93 55 121 33 121 -3C121 -41 93 -68 44 -88L55 -117C117 -98 186 -56 186 22C186 91 131 130 95 130Z"></path></g><g transform="matrix(.013,0,0,-0.013,42.916,0)"><path d="M248 635C97 635 43 457 43 311C43 153 97 -12 247 -12S450 166 450 312C450 466 397 635 248 635ZM246 603C337 603 361 452 361 312S337 20 248 20S132 172 132 313C132 452 156 603 246 603Z"></path></g><g transform="matrix(.013,0,0,-0.013,49.325,0)"><path d="M113 -12C146 -12 170 11 170 46C170 78 146 103 114 103S58 78 58 46C58 11 82 -12 113 -12Z"></path></g><g transform="matrix(.013,0,0,-0.013,52.335,0)"><path d="M241 635C89 635 35 457 35 312C35 153 89 -12 240 -12C390 -12 443 166 443 312C443 466 390 635 241 635ZM238 602C329 602 354 454 354 312C354 172 330 22 240 22C152 22 124 173 124 313S148 602 238 602Z"></path></g><g transform="matrix(.013,0,0,-0.013,58.575,0)"><path d="M384 0V27C293 34 287 42 287 114V635C232 613 172 594 109 583V559L157 557C201 555 205 550 205 499V114C205 42 199 34 109 27V0H384Z"></path></g><g transform="matrix(.013,0,0,-0.013,64.815,0)"><path d="M275 270C275 450 212 609 64 710L45 686C145 604 203 442 203 270S147 -63 45 -147L64 -170C213 -68 275 89 275 270Z"></path></g></svg> and periodic orbit; (b) initial value <svg height="11.5564pt" id="M256" style="vertical-align:-2.26807pt" version="1.1" viewbox="-0.0498162 -9.28833 45.7924 11.5564" width="45.7924pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M300 -147C201 -63 143 98 143 270S200 602 300 686L282 710C136 610 70 450 70 271V270C70 89 136 -72 282 -170L300 -147Z"></path></g><g transform="matrix(.013,0,0,-0.013,4.498,0)"><path d="M248 635C97 635 43 457 43 311C43 153 97 -12 247 -12S450 166 450 312C450 466 397 635 248 635ZM246 603C337 603 361 452 361 312S337 20 248 20S132 172 132 313C132 452 156 603 246 603Z"></path></g><g transform="matrix(.013,0,0,-0.013,10.907,0)"><path d="M113 -12C146 -12 170 11 170 46C170 78 146 103 114 103S58 78 58 46C58 11 82 -12 113 -12Z"></path></g><g transform="matrix(.013,0,0,-0.013,13.906,0)"><path d="M384 0V27C293 34 287 42 287 114V635C232 613 172 594 109 583V559L157 557C201 555 205 550 205 499V114C205 42 199 34 109 27V0H384Z"></path></g><g transform="matrix(.013,0,0,-0.013,20.146,0)"><path d="M95 130C70 130 46 113 46 88C46 72 54 64 59 64C93 55 121 33 121 -3C121 -41 93 -68 44 -88L55 -117C117 -98 186 -56 186 22C186 91 131 130 95 130Z"></path></g><g transform="matrix(.013,0,0,-0.013,25.285,0)"><path d="M248 635C97 635 43 457 43 311C43 153 97 -12 247 -12S450 166 450 312C450 466 397 635 248 635ZM246 603C337 603 361 452 361 312S337 20 248 20S132 172 132 313C132 452 156 603 246 603Z"></path></g><g transform="matrix(.013,0,0,-0.013,31.694,0)"><path d="M95 130C70 130 46 113 46 88C46 72 54 64 59 64C93 55 121 33 121 -3C121 -41 93 -68 44 -88L55 -117C117 -98 186 -56 186 22C186 91 131 130 95 130Z"></path></g><g transform="matrix(.013,0,0,-0.013,34.658,0)"><path d="M248 635C97 635 43 457 43 311C43 153 97 -12 247 -12S450 166 450 312C450 466 397 635 248 635ZM246 603C337 603 361 452 361 312S337 20 248 20S132 172 132 313C132 452 156 603 246 603Z"></path></g><g transform="matrix(.013,0,0,-0.013,41.138,0)"><path d="M275 270C275 450 212 609 64 710L45 686C145 604 203 442 203 270S147 -63 45 -147L64 -170C213 -68 275 89 275 270Z"></path></g></svg> and means chaos.</div>

Complexity

fig6

Figure 6

Figure 6: Hopf Bifurcation and Dynamic Analysis of an Improved Financial System with Two Delays 