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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:   Print book : EnglishView all editions and formats
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."--Jacket.
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Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Marco Lehmann-Waffenschmidt
ISBN: 9783540686620 3540686622
OCLC Number: 127107368
Description: viii, 272 pages : illustrations ; 24 cm.
Contents: Evolutions in the traditional walrasian exchange equilibrium framework --
Evolutions in an exchange equilibrium framework without walrus' law and homogeneity --
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 economics --
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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