Exchange processes with price adjustment

DOI10.1016/0304-4068(76)90009-4zbMath0366.90013OpenAlexW2044446157MaRDI QIDQ1242073

Stephen Smale

Publication date: 1976

Published in: Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0304-4068(76)90009-4

Mathematics Subject Classification ID

Trade models (91B60)

Related Items (22)

Analysis of a dynamic, decentralized exchange economy ⋮ The Homotopy Continuation Method: Numerically Implementable Topological Procedures ⋮ Continuous adjustments and Smale's non-tâtonnement processes ⋮ Intersecting families of sets and the topology of cones in economics ⋮ Economic equilibrium problems in reflexive Banach spaces ⋮ Monotone evolution of resource allocations ⋮ On disequilibrium adjustment processes ⋮ Derivational robustness, credible substitute systems and mathematical economic models: the case of stability analysis in Walrasian general equilibrium theory ⋮ Discrete Walrasian exchange process ⋮ On economic equilibrium type problems with applications ⋮ Separating the hawks from the doves: evidence from continuous time laboratory games ⋮ The current non-status of general equilibrium theory ⋮ Nominal uniqueness and money non-neutrality in the limit-price exchange process ⋮ Stable processes of exchange ⋮ Accessibility of Pareto optima by Walrasian exchange processes ⋮ Money-mediated disequilibrium processes in a pure exchange economy ⋮ The invisible hand of Laplace: the role of market structure in price convergence and oscillation ⋮ Adjustment of an affine contract with a fixed-point iteration ⋮ Stability of critical points for vector valued functions and Pareto efficiency ⋮ Money, barter, and convergence to the competitive allocation: Menger's problem ⋮ Steepest descent methods for critical points in vector optimization problems ⋮ Heavy viable trajectories of controlled systems

Cites Work

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• Global analysis and economics. II: Extension of a theorem of Debreu
• Global analysis and economics. VI: Geometric analysis of Pareto optima and price equilibria under classical hypotheses
• Characterization of optima in smooth Pareto economic systems
• A convergent process of price adjustment and global Newton methods
• On the Stability of Edgeworth's Barter Process
• On the Stability of a Pure Exchange Equiliblium
• The Stability of Exchange Equilibrium: An Alternative Approach
• A Theorem on Non-Tatonnement Stability
• On Price Adjustment Without an Auctioneer
• Smooth Preferences

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