Harrod's "knife-edge" reconsidered: an application of the Hopf bifurcation theorem and numerical simulations
The Instability Principle or Harrod's knife-edge instability states that the warranted rate of growth is a unique moving equilibrium which is highly unstable. Over time, economist Roy Harrod changed the interpretation of his theory in which a concept similar to the corridor stability was introduced. Knife-edge instability under the assumptions of price-flexibility and putty-clay technology in the goods market yielded results that were consistent with Harrod's later pronouncements.
Publication Name: Journal of Macroeconomics
Product line rivalry and market segmentation - with an application to automobile optional engine pricing
Automobile pricing practices are discussed. Automobiles with and without various additional options are evaluated.
Publication Name: Journal of Industrial Economics
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