Journal of Engineering Research and Reports

How to control chaos in the economic system has aroused the interest of researchers. We research the chaos control in a new Resource-Economic-Pollution system by time-delayed feedback control. By determining the appropriate range of time delay τ and feedback strength k, the chaotic phenomena of the system are controlled. We verify the linear stability and the existence of Hopf bifurcation of the system. Numerical simulations show that chaos control can eliminate the chaotic behavior of the system and stabilize the system at the equilibrium point. When the time lag term is in a certain interval, the chaotic phenomenon of the system will disappear and the system will be controlled in a stable state. In practice, due to capacity and financial constraints, the firm or the government often restrains output through many methods to confine the range of fluctuations in these variables. This shows that the government or corporate decision makers have often used this approach consciously or unconsciously to promote steady economic growth.