The system stability of dynamic processes

DOI10.1016/S0304-4068(97)00008-6MaRDI QIDQ1300402zbMATH OpenFDO

Authors Akitaka Dohtani

Publication date 1 September 1999

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

Full work available at URL https://doi.org/10.1016/S0304-4068(97)00008-6

zbMATH Keywords

dominant diagonal conditions with weightsno-cycle conditionsPugh's closing lemmasystem stability

Mathematics Subject Classification ID

Asymptotic properties of solutions to ordinary differential equations (34D05) Stability theory for smooth dynamical systems (37C75) Dynamical systems in optimization and economics (37N40) Trade models (91B60) Economic growth models (91B62)

Review text

The interest in this paper is in the system stability of the dynamic processes with multiple equilibria. Utilizing a no-cycle condition of \textit{J. S. Muldowney} [Rocky Mt. J. Math. 20, No. 4, 857-872 (1990; Zbl 0725.34049)] we derive two sufficient conditions for system stability, which provide generalizations of the dominant diagonal conditions with weights. The derived system stability conditions are, therefore, independent of adjustment coefficients. Our system stability conditions are applicable to various types of dynamic adjustment processes. We prove some properties concerning local stability and the number of stable equilibria. We also prove that almost any dynamical system which satisfies our system stability condition is Morse-Smale and, therefore, structurally stable.

Recommendations

• Some notes on the asymptotical stability of dynamic economic systems
• Strict diagonal dominance in asymptotic stability of general equilibrium
• Notes on the stability of dynamic economic systems.
• Morishima Systems and Global Stability
• scientific article; zbMATH DE number 1774539

Cites work

• An exact sequence in differential topology
• An Improved Closing Lemma and a General Density Theorem
• Compound matrices and ordinary differential equations
• Economies with a Finite Set of Equilibria
• Expectations and stability in oligopoly models
• Handbook of mathematical economics. Vol. II
• scientific article; zbMATH DE number 3162431 (Why is no real title available?)
• scientific article; zbMATH DE number 53324 (Why is no real title available?)
• scientific article; zbMATH DE number 3594998 (Why is no real title available?)
• scientific article; zbMATH DE number 4123479 (Why is no real title available?)
• scientific article; zbMATH DE number 3221041 (Why is no real title available?)
• scientific article; zbMATH DE number 3297399 (Why is no real title available?)
• scientific article; zbMATH DE number 3341031 (Why is no real title available?)
• Morishima Systems and Global Stability
• Multiplicity of Equilibria and Comparative Statics
• On Bendixson's criterion
• On the Stability of the Competitive Equilibrium, I
• On the Stability of the Competitive Equilibrium, II
• Some applications of Hausdorff dimension inequalities for ordinary differential equations
• Stability and instability in oligopoly
• Systems of Differential Equations that are Competitive or Cooperative II: Convergence Almost Everywhere
• Two Remarks on the Number of Equilibria of an Economy

Cited in

(7)

• A necessary and sufficient condition for a unique maximum with an application to potential games
• Tatonnement beyond gross substitutes? Gradient descent to the rescue
• Strict diagonal dominance in asymptotic stability of general equilibrium
• Morishima Systems and Global Stability
• scientific article; zbMATH DE number 1261564 (Why is no real title available?)
• System stability principles
• Aggregate substitution effects implying global stability

This page was built for publication: The system stability of dynamic processes

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q1300402)