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EC SD | Spikes - 2/1/2024 09:45
Even in a chaotic system a pattern will emerge...Lorenz's strange attractor proved that in the 60's Marty has a lot of articles on this subject...that you can search on his blogs...
Here's one that popped up on the subject of randomness but there is more that he has written.
Wrong - a pattern may or may not emerge from a chaotic system. Chaos theory only applies to dynamical systems where very specific criteria are true. A tiny sliver of the universe of dynamical systems at best...
A lot of efforts have been made to apply chaos theory to systems like the weather, economics, chemistry, biology, etc. and to date very few (if any) natural systems behave in the way that Chaos theory suggests. This is a very solid indicator that natural systems are not falling into the tiny sliver of dynamical systems which Chaos theory applies to.
From wikipedia - regarding its use for economics:
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It is possible that economic models can also be improved through an application of chaos theory, but predicting the health of an economic system and what factors influence it most is an extremely complex task. Economic and financial systems are fundamentally different from those in the classical natural sciences since the former are inherently stochastic in nature, as they result from the interactions of people, and thus pure deterministic models are unlikely to provide accurate representations of the data. The empirical literature that tests for chaos in economics and finance presents very mixed results, in part due to confusion between specific tests for chaos and more general tests for non-linear relationships.
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Fundamental over load Thanks Chart guys
