Non-linear systems are systems in which the output is not directly proportional to the input, often resulting in complex and unpredictable behavior. These systems are prevalent in various fields such as physics, biology, and economics, where they can exhibit phenomena like chaos, bifurcations, and multiple equilibria.

Non-linear Systems

Non-linear systems

complex and unpredictable behavior

fields such as physics

Fields such as biology

Fields such as economics

Chaos refers to the apparent randomness and unpredictability in systems that are highly sensitive to initial conditions, where small changes can lead to vastly different outcomes. This concept is central in understanding complex systems across various fields, highlighting the limits of predictability and the intricate patterns underlying seemingly disordered phenomena.

chaos

bifurcations

Multiple equilibria refer to situations in which an economic model or system can rest at different equilibrium points under the same external conditions. This phenomenon often arises in systems with non-linear dynamics or strategic interactions, leading to potential unpredictability and path dependence in outcomes.

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