The dynamics of marginal equilibria

DOI10.1016/0196-8858(87)90019-4MaRDI QIDQ1101758zbMATH OpenOpenAlexFDO

Authors W. J. R. Eplett

Publication date 1987

Published in Advances in Applied Mathematics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0196-8858(87)90019-4

zbMATH Keywords

approximationdynamical systemeconomicsequilibriumsmoothnesstrapping points

Mathematics Subject Classification ID

Strange attractors, chaotic dynamics of systems with hyperbolic behavior (37D45) Applications of dynamical systems (37N99) Numerical methods in optimal control (49M99) Nonparametric estimation (62G05) General nonlinear regression (62J02) General equilibrium theory (91B50)

Review text

The problem is studied of overall convergence of a dynamical system defined by one-dimensional minimum seeking processes. It has been proved that for smooth data the sequence of marginal minima converges to an overall minimum. If, however, the data are not smooth, the sequence may converge to the so-called trapping points. The structure of trapping points is analyzed in detail for continuous, convex and nicely approximable data. Applications are suggested in estimation theory and economics.

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• Low Median and Least Absolute Residual Analysis of Two-Way Tables
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Cited in

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