Memory and market stability: the case of the cobweb

DOI10.1016/0165-1765(88)90062-6MaRDI QIDQ900170zbMATH OpenOpenAlexFDO

Authors James M. Holmes, Richard L. Manning

Publication date 1 January 2016

Published in Economics Letters (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0165-1765(88)90062-6

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24) General equilibrium theory (91B50) Economic dynamics (91B55)

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Cites work

• Chaotic price behavior in a nonlinear cobweb model
• Rational Expectations Equilibria, Learning, and Model Specification
• Simple mathematical models with very complicated dynamics

Cited in

(15)

• A time-varying model of rational learning
• Chaotic dynamics in agricultural markets
• Infinite memory expectations in a dynamic model with hyperbolic demand
• Memory, market stability and attractors coexistence in a nonlinear cobweb model
• Memory Property in Heterogeneously Populated Markets
• Nonlinear-cobweb dynamics in the approach to equilibrium
• Dynamic effects of memory in a cobweb model with competing technologies
• Memory, market stability and the nonlinear cobweb theorem
• Discrete dynamical systems in economics: two seminal models and their developments
• Path dependence in models with fading memory or adaptive learning
• A stochastic cobweb dynamical model
• Bifurcation structures of a cobweb model with memory and competing technologies
• Dynamical regimes due to technological change in a microeconomical model of production
• Adaptive learning and roads to chaos. The case of the cobweb
• Non-linearities and partial analysis

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