A Globally Stable Price Adjustment Process

DOI10.2307/2938327zbMath0735.90008OpenAlexW2008805410MaRDI QIDQ3979447

Kazuya Kamiya

Publication date: 26 June 1992

Published in: Econometrica (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.2307/2938327

zbMATH Keywords

global Newton methodprice adjustmentWalras' tâtonnement

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24) Economic growth models (91B62)

Related Items (12)

Equilibrium adjustment of disequilibrium prices ⋮ An adjustment process for the standard Arrow-Debreu model with production ⋮ A globally and universally stable price adjustment process ⋮ A globally convergent price adjustment process for exchange economies ⋮ Globally stable price dynamics. ⋮ Dressing the emperor in a new dynamic outfit ⋮ An impossibility theorem for price-adjustment mechanisms ⋮ The invisible hand of Laplace: the role of market structure in price convergence and oscillation ⋮ The transition from a Drèze equilibrium to a Walrasian equilibrium ⋮ A continuity property for local price adjustment mechanisms ⋮ Global convergence of the stochastic tâtonnement process ⋮ Universally converging adjustment processes -- a unifying approach.

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