Dynamical systems in Walrusian general equilibrium

Dynamical systems in Walrusian general equilibrium

The role of dynamical systems in general equilibrium analysis is chronicled. Starting with the introduction of a suitable phase space and evolution model, fundamental existence and stability results are proved. From here, many negative statements regarding the convergence of the price mechanism a...

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Bibliographic Details
Main Author: Davey, Steven Jon
Format: Others
Language:en
Published: 2015
Subjects:
Equilibrium
Statics
Dynamics
Online Access:http://hdl.handle.net/10539/17032
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spelling ndltd-netd.ac.za-oai-union.ndltd.org-wits-oai-wiredspace.wits.ac.za-10539-170322019-05-11T03:41:20Z Dynamical systems in Walrusian general equilibrium Davey, Steven Jon Equilibrium Statics Dynamics The role of dynamical systems in general equilibrium analysis is chronicled. Starting with the introduction of a suitable phase space and evolution model, fundamental existence and stability results are proved. From here, many negative statements regarding the convergence of the price mechanism and attempts to rectify these conclusions are examined. The conclusion is that either the traditional economic hypotheses behind the model need to be reexamined or the economist’s dream of a universal pricing mechanism must be abandoned. 2015-02-20T09:45:17Z 2015-02-20T09:45:17Z 2015-02-20 Thesis http://hdl.handle.net/10539/17032 en application/pdf application/pdf application/pdf application/pdf application/pdf application/pdf application/pdf
collection NDLTD
language en
format Others
sources NDLTD
topic Equilibrium
Statics
Dynamics
spellingShingle Equilibrium
Statics
Dynamics
Davey, Steven Jon
Dynamical systems in Walrusian general equilibrium
description The role of dynamical systems in general equilibrium analysis is chronicled. Starting with the introduction of a suitable phase space and evolution model, fundamental existence and stability results are proved. From here, many negative statements regarding the convergence of the price mechanism and attempts to rectify these conclusions are examined. The conclusion is that either the traditional economic hypotheses behind the model need to be reexamined or the economist’s dream of a universal pricing mechanism must be abandoned.
author Davey, Steven Jon
author_facet Davey, Steven Jon
author_sort Davey, Steven Jon
title Dynamical systems in Walrusian general equilibrium
title_short Dynamical systems in Walrusian general equilibrium
title_full Dynamical systems in Walrusian general equilibrium
title_fullStr Dynamical systems in Walrusian general equilibrium
title_full_unstemmed Dynamical systems in Walrusian general equilibrium
title_sort dynamical systems in walrusian general equilibrium
publishDate 2015
url http://hdl.handle.net/10539/17032
work_keys_str_mv AT daveystevenjon dynamicalsystemsinwalrusiangeneralequilibrium
_version_ 1719083470545747968

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