Extended Model on Structural Stability and Robustness to Bounded Rationality
In this article, we focus on an extended model M¯ of bounded rationality. Based on a rationality function with lower semicontinuity, we analyze the relationship between structural stability and robustness of Ω¯. To further demonstrate the applicability of our theory, we introduce a model Ω¯0 contain...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Hindawi-Wiley
2021-01-01
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| Series: | Complexity |
| Online Access: | http://dx.doi.org/10.1155/2021/4902786 |
| Summary: | In this article, we focus on an extended model M¯ of bounded rationality. Based on a rationality function with lower semicontinuity, we analyze the relationship between structural stability and robustness of Ω¯. To further demonstrate the applicability of our theory, we introduce a model Ω¯0 containing an abstract rationality function and generalize abstract fuzzy economies. We demonstrate the structural stability of the extended model Ω¯0 at ξ¯,ɛ. That is to say, Ω¯0 is robust to the ξ¯,ɛ-equilibria. |
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| ISSN: | 1099-0526 |