
doi: 10.2139/ssrn.422720
handle: 10419/92745
The paper considers price adjustment on the plane and derives global stability conditions for such dynamics. First, we examine the well-known Scarf Example, to obtain and analyze a global stability condition for this case. Next, for a general class of excess demand functions, a set of conditions is identified which guarantee not only convergence to some equilibrium but also robustness of these properties.
Marktmechanismus, ddc:330, excess demand functions, Gleichgewichtsstabilität, dynamics on the plane, Dulac's Criterion, global stability conditions, C61, C62, D50, Theorie
Marktmechanismus, ddc:330, excess demand functions, Gleichgewichtsstabilität, dynamics on the plane, Dulac's Criterion, global stability conditions, C61, C62, D50, Theorie
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