Economic Motion: An Economic Application of the Lotka-Volterra Predator-Prey Model
This paper has three objectives: first, to present Goodwin’s original model; second, to present an augmented Goodwin model; and finally, to empirically test the models on a planned economy and eleven developed countries. During the development of the models, data for a planned economy, Hungary, will be tested. The model’s estimates for Hungary will be helpful in understanding the somewhat complicated mathematics and will also reveal the limitations of Goodwin’s original model.
Franklin and Marshall College Archives, Undergraduate Honors Thesis 2007
- F&M Theses Collection