Kaizoji, Taisei (2010): Multiple equilibria and chaos in a discrete tâtonnement process.
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The purpose of this note is to demonstrate a sufficient condition for discrete tâtonnement process to lead to chaos in a general equilibrium model with multiple commodities. The result indicates that as the speed of price adjustment increases the discrete tâtonnement process is complex in a general equilibrium economy in which there are multiple equilibria.
|Item Type:||MPRA Paper|
|Original Title:||Multiple equilibria and chaos in a discrete tâtonnement process|
|Keywords:||Multiple equilibria, Tâtonnement process; Nonlinear dynamics; Chaos|
|Subjects:||D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D50 - General
B - History of Economic Thought, Methodology, and Heterodox Approaches > B2 - History of Economic Thought since 1925 > B21 - Microeconomics
C - Mathematical and Quantitative Methods > C0 - General > C02 - Mathematical Methods
|Depositing User:||Taisei KAIZOJI|
|Date Deposited:||20. Jul 2010 13:39|
|Last Modified:||19. Feb 2013 10:42|
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