Equilibrium stability in a nonlinear cobweb model

C-Tier

Journal: Economics Letters

Year: 2020

Volume: 193

Issue: C

Authors (2)

Score contribution per author:

0.503 = (α=2.01 / 2 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

We demonstrate existence, and stability under adaptive learning, of restricted perceptions equilibria in a nonlinear cobweb model.