Synchronization of variable-order fractional financial system via active control method

Abstract

In this paper, we study the chaotic dynamics of a Variable-Order Fractional Financial System (VOFFS). The Variable-Order Fractional Derivative (VOFD) is defined in Caputo type. A necessary condition for occurrence of chaos in VOFFS is obtained. Numerical experiments on the dynamics of the VOFFS with various conditions are given. Based on them, it is shown that the VOFFS has complex dynamical behavior, and the occurrence of chaos depends on the choice of order function. Furthermore, the chaos synchronization of the VOFFS is studied via active control method. Numerical simulations demonstrate that the active control method is effective and simple for synchronizing the VOFFSs with commensurate or incommensurate order functions. © 2013 Versita Warsaw and Springer-Verlag Wien.