On the equilibrium price set of a continuous perturbation of exchange economies

Article Abstract:

An extended version of the decomposition approach to dealing with excess demand functions proposed by Sonnenschein, Debreu, Mantel and Mas-Colell is presented. This particular model incorporates continuity in the sense that neighboring exchange economies are transferred to excess demand functions. Results of the application of the model support the validity of the existence of a global property element of the equilibrium set of a nonstop disturbance of exchange economies.

Usage, Perturbation (Mathematics), Decomposition method

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Globally stable price dynamics

Article Abstract:

It is recognized that rate changes in price are proportional to excess demand of a corresponding commodity and that price does not converge to competitive equilibrium when dealing with more than two commodities in an economy of pure exchange. This paper researches excess-demand conditions that guarantee the process of price adjustment.

Poland, Prices, Labor Distribution by Employer, Analysis, Statistics, Economic research, Mathematical research

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Some corrections to claims about the literature in Engl and Scotchmer (1996)

Article Abstract:

The author rebuts the conclusions of an earlier article and shows that players in mathematical games are nearly equal.

United Kingdom, Mathematical recreations

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