Memory, market stability and the nonlinear cobweb theorem

dc.contributor.authorGaffney, J.
dc.contributor.authorPearce, C.
dc.date.issued2004
dc.description© Australian Mathematical Society The document attached has been archived with permission from the publisher.
dc.description.abstractCarlson 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.
dc.description.statementofresponsibilityJ. M. Gaffney and C. E. M. Pearce
dc.identifier.citationAustralia and New Zealand Industrial and Applied Mathematics (ANZIAM) Journal, 2004; 45:547-555
dc.identifier.issn1446-1811
dc.identifier.urihttp://hdl.handle.net/2440/318
dc.language.isoen
dc.publisherAustralian Mathematical Society
dc.source.urihttp://www.austms.org.au/Publ/ANZIAM/V45P4/2009.html
dc.titleMemory, market stability and the nonlinear cobweb theorem
dc.typeJournal article
pubs.publication-statusPublished

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