Multiple equilibria and chaos in a discrete tâtonnement process

B-Tier
Journal: Journal of Economic Behavior and Organization
Year: 2010
Volume: 76
Issue: 3
Pages: 597-599

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

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

Abstract

The purpose of this note is to demonstrate a sufficient condition for a discrete tâtonnement process to lead to chaos in a general equilibrium model with multiple commodities. The result indicates that as the speed of price adjustment increases, the discrete tâtonnement process is complex in a general equilibrium economy in which there are multiple equilibria.

Technical Details

RePEc Handle
repec:eee:jeborg:v:76:y:2010:i:3:p:597-599
Journal Field
Theory
Author Count
1
Added to Database
2026-01-25