Some Examples of Global Instability of the Competitive Equilibrium

Cited In (78)

Properties of bundle valuations in carrier collaboration
Price dynamics in an exchange economy
Power method tâtonnements for Cobb-Douglas economies
The futility of utility: how market dynamics marginalize Adam Smith
Substitution with satiation: a new class of utility functions and a complementary pivot algorithm
Globally and universally convergent price adjustment processes
Pareto efficiency in the jungle
COMMENT ON ‘THE STABILITY OF GENERAL INTERTEMPORAL EQUILIBRIUM: A NOTE ON SCHEFOLD’ BY SERGIO PARRINELLO
A top dog tale with preference complementarities
The invisible hand of Laplace: the role of market structure in price convergence and oscillation
Price stickiness and markup variations in market games
Anything goes with heterogeneous, but not always with homogeneous oligopoly
Derivational robustness, credible substitute systems and mathematical economic models: the case of stability analysis in Walrasian general equilibrium theory
Tatonnement beyond gross substitutes? Gradient descent to the rescue
Tatonnement and non tatonnement processes of the price mechanism
A price adjustment process with symmetry
Divergence and convergence in Scarf cycle environments: experiments and predictability in the dynamics of general equilibrium systems
The global stability of Walrasian tâtonnement
Chaotic tatonnement
Further remarks on the global Newton method
Dressing the emperor in a new dynamic outfit
The aggregated excess demand function and other aggregation procedures
A globally and universally stable price adjustment process
Asset market equilibrium: A simulation
Informational limitations of ascending combinatorial auctions
The permanent income hypothesis and long-run economic stability
Core tâtonnement
Instability in the implementation of Walrasian allocations
Locally stable price mechanisms
Decentralized pricing and the equivalence between Nash and Walrasian equilibrium
On the relationship between uniqueness and stability in sum-aggregative, symmetric and general differentiable games
Computation of equilibria in OLG models with many heterogeneous households
A discrete and symmetric price adjustment process on the simplex
A functional framework for agent-based models of exchange
On the equilibrium price set of a continuous perturbation of exchange economies
Convergence of iterative tâtonnement without price normalization
The permanent income hypothesis and short-run price stability
The Walras core of an economy and its limit theorem
Decentralised exchange, out-of-equilibrium dynamics and convergence to efficiency
A robust rational route to randomness in a simple asset pricing model
Equilibrium and optimality: some imprints of David Gale
Market design and the stability of general equilibrium
An \(N\)-dimensional version of Scarf's example
Is a unique Cournot equilibrium locally stable?
A continuity property for local price adjustment mechanisms
Stability of tâtonnement processes of short period equilibria with rational expectations
The transition from a Drèze equilibrium to a Walrasian equilibrium
Note on the path following approach of equilibrium programming
General equilibrium models and homotopy methods
An algorithm based on a sequence of linear complementarity problems applied to a walrasian equilibrium model: An example
A REPLY TO THE COMMENT BY DUNCAN FOLEY
Communication complexity and stability of equilibria in economies and games
Learning competitive equilibrium
Equilibrium adjustment of disequilibrium prices
On a possible interpretation of market dynamics based on the internal model principle
Some quasi-globally stable processes of price adjustment
A synergetic reformulation of general equilibrium theory
A convergent process of price adjustment and global Newton methods
A convergent price adjustment process
Stochastic stability in the Scarf economy
The complexity of resource allocation and price mechanisms under bounded rationality
Universally converging adjustment processes -- a unifying approach.
A theory of money and financial institutions: fiat money and noncooperative equilibrium in a closed economy
Decentralized dynamic processes for finding equilibrium
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Stable processes of exchange
On monopolistic competition and the equilibria of non-tâtonnement processes
An impossibility theorem for price-adjustment mechanisms
Equilibrium programming:The path following approach and dynamics
On the local convergence of economic mechanisms
A globally convergent price adjustment process for exchange economies
Globally stable price dynamics.
Decentralized evolutionary mechanisms for intertemporal economies: A possibility result
Global stability condition on the plane: a general law of demand
On the existence of universally convergent mechanisms
The ease of generating chaotic behavior in economics.
Global stability in a class of markets with three commodities and three consumers
The (2 n+1−2)-ray algorithm: A new simplicial algorithm to compute economic equilibria

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