Limit cycles in an optimal control problem of diabetes |
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Institution: | 1. School of Finance and Economics University of Technology, Sydney, Australia;2. Department of Economics, University of New Hampshire Durham, NH 03824-3593, U.S.A. |
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Abstract: | This article examines the behaviour of an individual diagnosed with diabetes. It is shown that the medical treatment of the disease creates incentives that make a diabetic's consumption, weight, and labour supply display cyclical patterns. The existence of a limit cycle is proved using an adaptation of the Hopf bifurcation theorem for optimal control problems. |
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