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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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Bibliographic Details
Published in:Journal of economic theory 1982-08, Vol.27 (2), p.353-365
Main Authors: Girardi, Mario, Israel, Giorgio
Format: Article
Language:English
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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.
ISSN:0022-0531
1095-7235
DOI:10.1016/0022-0531(82)90034-5