Homoclinic bifurcation occurs when a trajectory in a dynamical system becomes homoclinic, meaning it intersects a saddle point's stable and unstable manifolds. This type of bifurcation is crucial in understanding how system behavior changes dramatically as parameters are varied, leading to complex dynamics such as chaos. It can be associated with the creation of chaotic attractors, where the system's behavior becomes unpredictable and sensitive to initial conditions.
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