New aspects of the adaptive synchronization and hyperchaos suppression of a financial model

This paper mainly focuses on the analysis of a hyperchaotic financial system as well as its chaos control and synchronization. The phase diagrams of the above system are plotted and its dynamical behaviours like equilibrium points, stability, hyperchaotic attractors and Lyapunov exponents are investigated. In order to control the hyperchaos, an efficient optimal controller based on the Pontryagin’s maximum principle is designed and an adaptive controller established by the Lyapunov stability theory is also implemented. Furthermore, two identical financial models are globally synchronized by using an interesting adaptive control scheme. Finally, a fractional economic model is introduced which can also generate hyperchaotic attractors. In this case, a linear state feedback controller together with an active control technique are used in order to control the hyperchaos and realize the synchronization, respectively. Numerical simulations verifying the theoretical analysis are included.