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Economic evolution and equilibrium : bridging the gap

Author: Marco Lehmann-Waffenschmidt
Publisher: Berlin ; New York : Springer, ©2007.
Series: Lecture notes in economics and mathematical systems, 591.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Publication:Springer e-books
Summary:
This work uses various model frameworks to study the evolution of equilibria in an open loop evolving economy in which the model characteristics evolve without any directional restrictions except for continuity. Applying mathematical methods, it is shown that equilibria can always be adapted in a piecewise gradual, non bang-bang way. Furthermore, the analysis provides a complete characterization of the structure of  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Lehmann-Waffenschmidt, Marco.
Economic evolution and equilibrium.
Berlin ; New York : Springer, ©2007
(DLC) 2007925055
(OCoLC)127107368
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Marco Lehmann-Waffenschmidt
ISBN: 9783540686644 3540686649 3540686622 9783540686620
OCLC Number: 185027001
Description: 1 online resource (viii, 272 pages) : illustrations.
Contents: Evolutions in the traditional Walrasian Exchange Equilibrium Framework --
Evolutions in an Exchange Equilibrium Framework --
Evolutions in a general Equilibrium Framework with production, taxes, and subsidies --
Evolutions in the Temporary Fixprice Equilibrium Framework --
Near-equilibrium paths --
Equilibrium paths --
Economic refinements of the notion of an evolution of economies --
The structure of the equilibrium price set of an evolution of exchange economies --
Comparison with related results in the literature --
Applications of the analytical results from part ii in the Economist's laboratory --
The method of kinetic analysis of evolving economies in historical time --
Evolving economies in historical time.
Series Title: Lecture notes in economics and mathematical systems, 591.
Responsibility: Marco Lehmann-Waffenschmidt.

Abstract:

This work uses various model frameworks to study the evolution of equilibria in an open loop evolving economy in which the model characteristics evolve without any directional restrictions except for  Read more...

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