Global stability of the competitive economy involving complementary relations among commodities

Article Abstract:

Diagonal dominance (DD) conditions with constant weights are differentiated from the DD with the weights depending on prices. The generalization of DD with constant weights indicate the global stability of the competitive economy with commodities that have complementary relations. Consideration of the the tatonnement process provides an alte0native generalization for weak gross substitutability conditions.

Commodities, Substitution (Economics)

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Regular public good economies

Article Abstract:

A study was conducted to examine the regularity of public good economies. The study considers economies with private and pure public goods and focuses on the concepts of Lindahl, ratio and balanced linear cost share equilibrium. Results show that these regularity properties exhibit a generic characteristic. In addition, the choice of equilibrium concept defines the idea of regular economy.

Public goods

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A weak correspondence principle for models with complementarities

Article Abstract:

A study is presented which proves that models with complementarities should be selecting unstable equilibria where as monotone comparative statics under additional regulatory conditions should be selecting stable equilibria. The study is done using correspondence principle.

Science & research, Monotonic functions

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