Research Article
BibTex RIS Cite

APPLICATIONS OF THEORIES OF COMPLEXITY AND CHAOS TO GOLD PRICES

Year 2018, Volume: 9 Issue: 17, 181 - 190, 30.06.2018

Abstract

Chaos theory is considered as a new subject in
understanding non linear system’s dynamic behaviours. Chaos theorem is used in
several fields such as mathematics, physics, chemistry as well as  in finance and economics sector. Although,
there is a enourmous demand for gold,  
gold prices are volatile because of different reasons. This volatility
chould be reduced by chaos theory. Also, the aim is to show whether gold prices
data shows any chaotic behavior or not.

References

  • Alptekin, V., Güvenek, B. & Boyacıoğlu, M. A. (2010). Modelling volatility of the gold prices by using generalized autoregressive conditional heteroscedasticity method: The Case of Turkey. Journal of Academic Research in Economics, Vol:1.
  • Chatrath, A., Adrangi, B. & Shank, T. (2001) Nonlinear dependence in gold and silver futures: Is it chaos? , The American Economist, Vol:45 (2).
  • Frear, D. (2011). The effect of change on management planning: Applying chaos theory. International Journal of Business and Social Sciences, Vol. 3, No. 14.
  • Grassberger, P. & Procaccia I. (1983). Dimension and entropies of strange attractors from a fluctuating dynamics approach. Physica, 13, pp:34-54.
  • Ismail, Z., Yahya, A. & Shabri, A. (2009). Forecasting gold prices using multiple linear regression method. American Journal of Applied Sciences 5 (8): 1509- 1514.
  • Jinguang, W. & Li, M. (2008). A study on transmission mechanism of financial supervision with chaos Theory. Canadian Social Science, Vol. 6, No.2,
  • Karaçalı, Ö. & Demirci, H. İ. (2009). Application of chaos theory to data modelling method based on the alternative scenarios manufacturing information systems. Teknoloji, 7 (2), 123-132.
  • Kearney, A. & Lombra, R. (2008). Nonneutral short-run effects of derivatives on gold prices. Applied Financial Economics, 8, 985-994.
  • Nguyen, H. L. (2011) Managing sme’s survival from financial crisis in a transition economy: A Chaos Theory Approach. Journal of General Management, vol:1
  • Sloan, K. (2011). Viewing organizations through the lens of chaos theory: Thoughts on applicability and usefulness. European Journal of Social Sciences- Vol. 10, No. 3.
  • Sorin, V. (2010). Chaos models in economics. Annals of the University of Oradea, Economic Science Series,11.
  • Takens F. (1981). Detecting strange attractors in turbulance. New-York: Springer-Verlag, pp .366-381.
  • Toraman, C., Başarır, Ç. & Bayramoğlu, M. F. (2011). Determination of factors affecting the price of gold: A study of mgarch model. Journal of Alanya Faculty of Business, vol:13.
  • Vatti, R. R. (2008). An investigation of gold price. Proceedings for the Northeast Region Decision Sciences Institute (NEDSI), Vol:14.
  • Vatti, R. R. (1973). Gold price before and after the subprime crisis. Proceedings of the Northeast Business & Economics Association, Vol:15.
Year 2018, Volume: 9 Issue: 17, 181 - 190, 30.06.2018

Abstract

References

  • Alptekin, V., Güvenek, B. & Boyacıoğlu, M. A. (2010). Modelling volatility of the gold prices by using generalized autoregressive conditional heteroscedasticity method: The Case of Turkey. Journal of Academic Research in Economics, Vol:1.
  • Chatrath, A., Adrangi, B. & Shank, T. (2001) Nonlinear dependence in gold and silver futures: Is it chaos? , The American Economist, Vol:45 (2).
  • Frear, D. (2011). The effect of change on management planning: Applying chaos theory. International Journal of Business and Social Sciences, Vol. 3, No. 14.
  • Grassberger, P. & Procaccia I. (1983). Dimension and entropies of strange attractors from a fluctuating dynamics approach. Physica, 13, pp:34-54.
  • Ismail, Z., Yahya, A. & Shabri, A. (2009). Forecasting gold prices using multiple linear regression method. American Journal of Applied Sciences 5 (8): 1509- 1514.
  • Jinguang, W. & Li, M. (2008). A study on transmission mechanism of financial supervision with chaos Theory. Canadian Social Science, Vol. 6, No.2,
  • Karaçalı, Ö. & Demirci, H. İ. (2009). Application of chaos theory to data modelling method based on the alternative scenarios manufacturing information systems. Teknoloji, 7 (2), 123-132.
  • Kearney, A. & Lombra, R. (2008). Nonneutral short-run effects of derivatives on gold prices. Applied Financial Economics, 8, 985-994.
  • Nguyen, H. L. (2011) Managing sme’s survival from financial crisis in a transition economy: A Chaos Theory Approach. Journal of General Management, vol:1
  • Sloan, K. (2011). Viewing organizations through the lens of chaos theory: Thoughts on applicability and usefulness. European Journal of Social Sciences- Vol. 10, No. 3.
  • Sorin, V. (2010). Chaos models in economics. Annals of the University of Oradea, Economic Science Series,11.
  • Takens F. (1981). Detecting strange attractors in turbulance. New-York: Springer-Verlag, pp .366-381.
  • Toraman, C., Başarır, Ç. & Bayramoğlu, M. F. (2011). Determination of factors affecting the price of gold: A study of mgarch model. Journal of Alanya Faculty of Business, vol:13.
  • Vatti, R. R. (2008). An investigation of gold price. Proceedings for the Northeast Region Decision Sciences Institute (NEDSI), Vol:14.
  • Vatti, R. R. (1973). Gold price before and after the subprime crisis. Proceedings of the Northeast Business & Economics Association, Vol:15.
There are 15 citations in total.

Details

Primary Language English
Journal Section Articles
Authors

S.hikmet Çağlar 0000-0002-7410-3438

Publication Date June 30, 2018
Published in Issue Year 2018 Volume: 9 Issue: 17

Cite

APA Çağlar, S. (2018). APPLICATIONS OF THEORIES OF COMPLEXITY AND CHAOS TO GOLD PRICES. Kafkas Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 9(17), 181-190.

KAUJEASF is the corporate journal of Kafkas University, Faculty of Economics and Administrative Sciences Journal Publishing.

2025 June issue article acceptance and evaluations are ongoing.