Abstract: A simple Bowly’s model with bounded rationality is explicitly studied from three aspects,the complexity of the dynamic evolution of the model,the indexes to measure the system’s performance,chaos control with targeting method We also propose the idea of bifurcation control and realize it in the economic system We find that the stability of the system will be increased if production decisions are made on comprehensive historical information At last we generalize the model and give an elementary analysis which deserves further study.

Key words: Bowly’s model, targeting method, bifurcation control