Nonlinear-cobweb dynamics in the approach to equilibrium
We discuss some propositions of Holmes and Manning relating to the evolution of price in a cobweb market approaching equilibrium. We find in particular that the detailed behaviour of the linear model is quite typical of nonlinear cobweb models.
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| Veröffentlicht in: | The ANZIAM journal 2004-07, Vol.46 (1), p.79-83 |
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| Hauptverfasser: | , |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
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| Zusammenfassung: | We discuss some propositions of Holmes and Manning relating to the evolution of price in a cobweb market approaching equilibrium. We find in particular that the detailed behaviour of the linear model is quite typical of nonlinear cobweb models. |
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| ISSN: | 1446-1811 1446-8735 |
| DOI: | 10.1017/S1446181100013687 |