Abstract
Controlling chaotic economic systems is an important problem. The Ott, Grebogi and Yorke (1990) method is a way to control chaos gradually. However, in order to apply this method the control parameter has to be close to a prescribed value. To achieve this, the targeting method of Shinbrot Ott, Grebogi and Yorke can be applied first to speed up convergence. In this paper the Ott et al method is modified so that the system is guided gradually out of the chaotic region and in the stability zone. The control parameter does not have to be in a prescribed region. The method is applied to the Puu formulation of Cournot dynamic duopoly and oligopoly models.
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