Abstract
In this paper, a fractional 4D chaotic financial model with optimal control is investigated. The fractional derivative used in this financial model is Atangana–Baleanu derivative. The existence and uniqueness conditions of solutions for the proposed model are derived based on Mittag-Leffler law. Optimal control is incorporated into the model to maximize output. The Adams–Moulton scheme of the Atangana–Baleanu derivative is utilized to obtain the numerical results which produce new attractors. Euler-Lagrange optimality conditions are determined for the fractional 4D chaotic financial model. The numerical results show that the memory factor has a great influences on the dynamics of the model.
| Original language | English |
|---|---|
| Pages (from-to) | 38-53 |
| Number of pages | 16 |
| Journal | Chinese Journal of Physics |
| Volume | 65 |
| DOIs | |
| State | Published - Jun 2020 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 10 Reduced Inequalities
Keywords
- Chaotic systems
- Euler-Lagrange optimality
- Financial model
- Fractional optimal control
- Mittag-Leffler function
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