Price dynamics in equilibrium models: the search for equilibrium and the emergence of endogenous fluctuations
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Boston [u.a.]
Kluwer
2001
|
| Schriftenreihe: | Advances in computational economics
16 |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XIII, 232 S. grpah. Darst. |
| ISBN: | 0792372654 |
Internformat
MARC
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| 100 | 1 | |a Tuinstra, Jan |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Price dynamics in equilibrium models |b the search for equilibrium and the emergence of endogenous fluctuations |c by Jan Tuinstra |
| 264 | 1 | |a Boston [u.a.] |b Kluwer |c 2001 | |
| 300 | |a XIII, 232 S. |b grpah. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
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| 490 | 1 | |a Advances in computational economics |v 16 | |
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| 650 | 7 | |a Wiskundige modellen |2 gtt | |
| 650 | 4 | |a Mathematisches Modell | |
| 650 | 4 | |a Prices -- Mathematical models | |
| 650 | 4 | |a Equilibrium (Economics) -- Mathematical models | |
| 650 | 4 | |a Statics and dynamics (Social sciences) | |
| 650 | 4 | |a Nonlinear theories | |
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Datensatz im Suchindex
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|---|---|
| adam_text | Contents
1
Introduction
and Outline
1
l.lBounded Rationality
........................ 2
1.2
Theory of Nonlinear Dynamics
.................. 4
1.2.1
Nonlinear economic dynamics: a historical per¬
spective
........................ 5
1.2.2
An example
...................... 7
UOutline
............................... 12
2
A Tâtonnement
Process
17
2.1
Introduction
............................. 17
2.2Price adjustment models
...................... 18
2.3The Model
.............................. 28
2.3.1
Price normalization
................. 28
2.3.2
Model specifications
................. 30
2.3.3
Some typical numerical simulations
......... 32
2.4Symmetry
.............................. 34
2.5Local bifurcation analysis
..................... 39
2.5.1
Symmetry and the Jacobian matrix
........ 40
2.5.2
Rotational symmetry and the
Hopf
bifurcation
. . 43
2.5.3
Reflection symmetry and the period-doubling bi¬
furcation
....................... 43
2.5.4
D3 symmetry and the Equivariant Branching Lemma
45
2.6Global dynamics
.......................... 48
2.6.1
Symmetry-breaking and -increasing bifurcations
. 48
2.6.2
Rotational symmetry
................. 50
2.6.3
Reflection symmetry
................. 53
2.7
An asymmetric price adjustment process
............. 57
2.8
Multiplicity of equilibria
...................... 60
vi
CONTENTS
2.8.1
Transcriticai
and saddle-node bifurcations: a case
study
......................... 60
2.8.2
The continuous
tâtonnement
process
........ 62
2.9Summary and conclusions
..................... 63
3
Perfect Foresight Cycles in Overlapping Generations Mod¬
els
65
3.1
The overlapping generations model
................ 65
3.2
Equivalence
............................. 71
3.2.1
A cyclical exchange economy
............ 71
3.2.2
An overlapping generations model
......... 74
3.2.3
Equivalence of cycles and asymmetric equilibria
. . 75
3.2.4
A special case: the two generations overlapping
generations model and Sarkovskii s theorem
.... 78
3.2.5
Extensions
...................... 80
3.3Examples
.............................. 83
3.3.1
A three generations overlapping generations model
with
CES
utility functions
.............. 83
3.3.2
A two generations overlapping generations model
with
CARA
utility functions
............ 85
3.3.3
An example with two generations and capital
... 88
4
Learning in Overlapping Generations Models
91
4.1
Perfect foresight versus learning
.................. 91
4.2
The overlapping generations model
................ 94
4.3Static expectations
......................... 99
4.4A regression on price levels
.................... 105
4.5
A regression on inflation rates
-
part I
.............. 110
4.6
A regression on inflation rates
-
part II
.............. 117
4.7Summary
.............................. 123
5
An Evolutionary Model of Cournot Competition
125
5.1
Introduction
............................. 125
5.2The Model
.............................. 128
5.2.1
Traditional Cournot Duopoly Analysis
....... 128
5.2.2
Quantity Dynamics
.................. 131
5.2.3
Population Dynamics
................ 133
5.2.4
Local Instability Results
............... 139
5.3
Best-Reply versus Rational Players
................ 143
5.4
Local Bifurcation Analysis
..................... 145
CONTENTS
vii
5.4.1
Discrete
Choice
Dynamics
..............146
5.4.2
Replicator
Dynamics
................. 153
5.5
Global
Bifurcation Analysis
.................... 158
5.5.1
Homoclinic
Bifurcation Theory
........... 159
5.6
Imitators versus Best-Reply Players
................171
5.6.1
Discrete Choice Model
................ 172
5.6.2
Replicator Dynamics
................. 175
öJConcluding
Remarks
........................ 176
5.8Appendix
.............................. 178
5.8.1
Derivation of Profit Functions
............ 178
5.8.2
Equivalence of the Cournot and Cobweb Model
. . 179
5.8.3
The Jacobian matrix
................. 181
5.8.4
Some Important Curves
............... 183
5.8.5
Diffeomorphisms
................... 184
6
Price Adjustment in Monopolistic Competition
187
6.1
Introduction
............................. 187
6.2A partial equilibrium model
.................... 189
6.2.1
Best-reply dynamics
................. 191
6.2.2
Gradient systems
................... 197
6.3
A short memory learning procedure
................ 199
6.3.1
Examples: convergence
............... 202
6.3.2
Example: nonconvergence
.............. 204
6.4
A long memory learning procedure
................ 210
ô.õConcluding
remarks
........................ 217
References
219
Index
231
|
| any_adam_object | 1 |
| author | Tuinstra, Jan |
| author_facet | Tuinstra, Jan |
| author_role | aut |
| author_sort | Tuinstra, Jan |
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| callnumber-subject | HB - Economic Theory and Demography |
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| dewey-full | 338.5/221 338.5/2 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 338 - Production |
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| dewey-search | 338.5/2 21 338.5/2 |
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| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Book |
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| illustrated | Not Illustrated |
| indexdate | 2024-07-09T18:50:19Z |
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| isbn | 0792372654 |
| language | English |
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| physical | XIII, 232 S. grpah. Darst. |
| publishDate | 2001 |
| publishDateSearch | 2001 |
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| publisher | Kluwer |
| record_format | marc |
| series | Advances in computational economics |
| series2 | Advances in computational economics |
| spelling | Tuinstra, Jan Verfasser aut Price dynamics in equilibrium models the search for equilibrium and the emergence of endogenous fluctuations by Jan Tuinstra Boston [u.a.] Kluwer 2001 XIII, 232 S. grpah. Darst. txt rdacontent n rdamedia nc rdacarrier Advances in computational economics 16 Economisch evenwicht gtt Equilibrio social Prijsbewegingen gtt Wiskundige modellen gtt Mathematisches Modell Prices -- Mathematical models Equilibrium (Economics) -- Mathematical models Statics and dynamics (Social sciences) Nonlinear theories Nichtlineare Dynamik (DE-588)4126141-0 gnd rswk-swf Gleichgewichtsmodell (DE-588)4125214-7 gnd rswk-swf Preisbildung (DE-588)4047103-2 gnd rswk-swf Gleichgewichtstheorie (DE-588)4071876-1 gnd rswk-swf Mathematisches Modell (DE-588)4114528-8 gnd rswk-swf Preismodell (DE-588)4175626-5 gnd rswk-swf Preismodell (DE-588)4175626-5 s Gleichgewichtsmodell (DE-588)4125214-7 s DE-604 Preisbildung (DE-588)4047103-2 s Gleichgewichtstheorie (DE-588)4071876-1 s Nichtlineare Dynamik (DE-588)4126141-0 s Mathematisches Modell (DE-588)4114528-8 s DE-188 Advances in computational economics 16 (DE-604)BV023549942 16 Digitalisierung UB Bamberg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009356118&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Tuinstra, Jan Price dynamics in equilibrium models the search for equilibrium and the emergence of endogenous fluctuations Advances in computational economics Economisch evenwicht gtt Equilibrio social Prijsbewegingen gtt Wiskundige modellen gtt Mathematisches Modell Prices -- Mathematical models Equilibrium (Economics) -- Mathematical models Statics and dynamics (Social sciences) Nonlinear theories Nichtlineare Dynamik (DE-588)4126141-0 gnd Gleichgewichtsmodell (DE-588)4125214-7 gnd Preisbildung (DE-588)4047103-2 gnd Gleichgewichtstheorie (DE-588)4071876-1 gnd Mathematisches Modell (DE-588)4114528-8 gnd Preismodell (DE-588)4175626-5 gnd |
| subject_GND | (DE-588)4126141-0 (DE-588)4125214-7 (DE-588)4047103-2 (DE-588)4071876-1 (DE-588)4114528-8 (DE-588)4175626-5 |
| title | Price dynamics in equilibrium models the search for equilibrium and the emergence of endogenous fluctuations |
| title_auth | Price dynamics in equilibrium models the search for equilibrium and the emergence of endogenous fluctuations |
| title_exact_search | Price dynamics in equilibrium models the search for equilibrium and the emergence of endogenous fluctuations |
| title_full | Price dynamics in equilibrium models the search for equilibrium and the emergence of endogenous fluctuations by Jan Tuinstra |
| title_fullStr | Price dynamics in equilibrium models the search for equilibrium and the emergence of endogenous fluctuations by Jan Tuinstra |
| title_full_unstemmed | Price dynamics in equilibrium models the search for equilibrium and the emergence of endogenous fluctuations by Jan Tuinstra |
| title_short | Price dynamics in equilibrium models |
| title_sort | price dynamics in equilibrium models the search for equilibrium and the emergence of endogenous fluctuations |
| title_sub | the search for equilibrium and the emergence of endogenous fluctuations |
| topic | Economisch evenwicht gtt Equilibrio social Prijsbewegingen gtt Wiskundige modellen gtt Mathematisches Modell Prices -- Mathematical models Equilibrium (Economics) -- Mathematical models Statics and dynamics (Social sciences) Nonlinear theories Nichtlineare Dynamik (DE-588)4126141-0 gnd Gleichgewichtsmodell (DE-588)4125214-7 gnd Preisbildung (DE-588)4047103-2 gnd Gleichgewichtstheorie (DE-588)4071876-1 gnd Mathematisches Modell (DE-588)4114528-8 gnd Preismodell (DE-588)4175626-5 gnd |
| topic_facet | Economisch evenwicht Equilibrio social Prijsbewegingen Wiskundige modellen Mathematisches Modell Prices -- Mathematical models Equilibrium (Economics) -- Mathematical models Statics and dynamics (Social sciences) Nonlinear theories Nichtlineare Dynamik Gleichgewichtsmodell Preisbildung Gleichgewichtstheorie Preismodell |
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