Please use this identifier to cite or link to this item:
Type: Journal article
Title: Memory, market stability and the nonlinear cobweb theorem
Author: Gaffney, J.
Pearce, C.
Citation: Australia and New Zealand Industrial and Applied Mathematics (ANZIAM) Journal, 2004; 45:547-555
Publisher: Australian Mathematical Society
Issue Date: 2004
ISSN: 1446-1811
Statement of
J. M. Gaffney and C. E. M. Pearce
Abstract: Carlson has shown that if the predicted price in the linear cobweb model is taken as the average of all previous actual prices, then stability results independently of parameter values provided only that the demand--curve gradient is less than that of the supply curve. This result has subsequently been generalised by Manning and by Holmes and Manning. We investigate the robustness of their results.
Description: © Australian Mathematical Society The document attached has been archived with permission from the publisher.
Published version:
Appears in Collections:Applied Mathematics publications
Aurora harvest 6

Files in This Item:
File Description SizeFormat 
hdl_318.pdf65.31 kBAdobe PDFView/Open

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.