Competitive chaos (Q1080763)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Competitive chaos |
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Competitive chaos (English)
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1986
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What kinds of dynamic behavior can optimal trajectories in deterministic growth models display? This paper presents examples of economies that have stable equilibrium cycles in consumption, capital, and prices of arbitrary period, as well as of economies that have chaotic equilibrium paths. Some necessary and sufficient conditions for these phenomena to occur are discussed.
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optimal trajectories in deterministic growth models
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stable equilibrium cycles
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chaotic equilibrium paths
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