Hopf bifurcation and topological horseshoe of a novel finance chaotic system

This paper deals with the existence of both Hopf bifurcation and topological horseshoe for a novel finance chaotic system. First, through rigorous mathematical analysis, we show that a Hopf bifurcation occurs at systems’ three equilibriums S_0,1,2 and Hopf bifurcation at equilibrium S₀ is non-degenerate and supercritical. Second, the computer-assisted verifications for horseshoe chaos in the system are given. Simulation results are presented to support the analysis.