We consider multi-valued dynamical systems with continuous time of the form ẋ ∈ F (x), where F (x) is a set-valued function. Such models have been studied recently in mathematical economics. We provide a definition for chaos, ω-chaos and topological entropy for these differential inclusions that is in terms of the natural R-action on the space of all solutions of the model. By considering this more complicated topological space and its R-action we show that chaos is the ‘typical’ behavior in these models by showing that near any hyperbolic fixed point there is a region where the system is chaotic, ω-chaotic, and has infinite topological entropy.
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