Economic evolution and equilibrium : bridging the gap /

Saved in:

Bibliographic Details
Author / Creator:	Lehmann-Waffenschmidt, Marco.
Imprint:	Berlin ; New York : Springer, c2007.
Description:	1 online resource (viii, 272 p.) : ill.
Language:	English
Series:	Lecture notes in economics and mathematical systems, 0075-8442 ; 591 Lecture notes in economics and mathematical systems ; 591.
Subject:	Equilibrium (Economics) Evolutionary economics. Equilibrium (Economics) Evolutionary economics.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/8882471

Hidden Bibliographic Details
ISBN:	9783540686644 3540686649
Notes:	Includes bibliographical references (p. [263]-269) and index. Description based on print version record.
Summary:	This work uses various model frameworks to study the evolution of equilibria in an open loop evolving economy in which the model characteristics evolve without any directional restrictions except for continuity. Applying mathematical methods, it is shown that equilibria can always be adapted in a piecewise gradual, non bang-bang way. Furthermore, the analysis provides a complete characterization of the structure of the equilibrium price set of evolving exchange economies. The results allow to derive policy implications for a gradual, frictionless tuning of equilibrium values for open loop evol.
Other form:	Print version: Lehmann-Waffenschmidt, Marco. Economic evolution and equilibrium. Berlin ; New York : Springer, c2007 9783540686620 3540686622

Similar Items