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Simulating tatonnement in a production economy

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Author Info
Claus Weddepohl
Abstract

The paper presents some simulation results for a tatonnement process in a simple general equilibrium model with production. It shows that the discrete time tatonnement process can generate periodic and chaotic paths.

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Publisher Info
Article provided by Springer in its journal Economic Theory.

Volume (Year): 10 (1997)
Issue (Month): 3 ()
Pages: 551-558
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Handle: RePEc:spr:joecth:v:10:y:1997:i:3:p:551-558

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  1. Herings,P. Jean-Jacques, 2001. "Coordinating Thoughts on Coordination Failures," Research Memoranda 018, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization. [Downloadable!]
  2. Laan, G. van der & Talman, D., 2002. "Dynamic adjustment of supply constrained disequilibria to walrasian equilibrium," Discussion Paper 61, Tilburg University, Center for Economic Research. [Downloadable!]
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