Abstract
This paper presents the results of investigating the dynamics of an economic system with chaotic behavior and a suboptimal control proposal to suppress the chaotic behavior. Numerical results using phase portraits, bifurcation diagrams, Lyapunov exponents, and 0-1 testing confirmed chaotic and hyperchaotic behavior. The results also proved the effectiveness of the control, showing errors below 1%, even in cases where the control design is subject to parametric errors. Additionally, an investigation of the system in fractional order is included, demonstrating that the system has periodic, constant, or chaotic behavior for specific values of the order of the derivative.
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