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Some quasi-globally stable processes of price adjustment
In this paper, the existence of some quasi-globally stable processes of price adjustment in a perfectly competitive market, is proved. These processes are relative to a special class of “excess demand” vector fields satisfying regularity hypotheses and boundary conditions of classical type. Modifica...
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Published in: | Journal of economic theory 1982-08, Vol.27 (2), p.353-365 |
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Main Authors: | , |
Format: | Article |
Language: | English |
Citations: | Items that this one cites |
Online Access: | Get full text |
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Summary: | In this paper, the existence of some quasi-globally stable processes of price adjustment in a perfectly competitive market, is proved. These processes are relative to a special class of “excess demand” vector fields satisfying regularity hypotheses and boundary conditions of classical type. Modifications of the above processes which, under different hypotheses, are still quasi-globally stable, are studied. |
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ISSN: | 0022-0531 1095-7235 |
DOI: | 10.1016/0022-0531(82)90034-5 |