L.A.S. and Negative Schwarzian Derivative Do Not Imply G.A.S. in Clark’s Equation

Abstract

It has been conjectured that a locally attracting equilibrium of Clark’s equation \(x_{n+1}=\alpha x_n + (1-\alpha )h(x_{n-k})\) is also globally attracting whenever h is a unimodal or decreasing map with negative Schwarzian derivative. The main aim of this paper is to show that the conjecture is false when \(k\ge 3\). This is done by studying the (Neimark–Sacker) bifurcation at the parameter \(\alpha \) where the locally attracting equilibrium of the equation becomes unstable. Our results, on the other hand, reinforce the validity of the conjecture in the cases \(k=1,2\).