Price Dynamics in Equilibrium Models - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Price Dynamics in Equilibrium Models write by Jan Tuinstra. This book was released on 2012-12-06. Price Dynamics in Equilibrium Models available in PDF, EPUB and Kindle. A long-standing unsolved problem in economic theory is how economic equilibria are attained. Price Dynamics in Equilibrium Models: The Search for Equilibrium and the Emergence of Endogenous Fluctuations considers a number of adjustment processes in different economic models and investigates their dynamical behaviour. Two important themes arising in this context are `bounded rationality' and `nonlinear dynamics'. Important sub-themes of the book are the following: how do boundedly rational agents interact with their environment and does this interaction in some sense lead to rational outcomes (which may or may not correspond to equilibria)? The second sub-theme deals with the consequences of the nonlinear dynamical nature of many adjustment processes. The results presented in this volume indicate that endogenous fluctuations are the rule rather than the exception in the search for equilibrium. The book uses the theory of nonlinear dynamics to analyze the dynamics of the different economic models. Due to the complexity of most of the models, an important role is played by computational methods. In particular, at regular instances the models are analyzed by numerical simulations and some computer-assisted proofs are provided. It also covers a wide range of dynamical models from economic theory. Most of these models merge the theory of nonlinear economic dynamics with the theory of bounded rationality. The book is written for anyone with an interest in economic theory in general and bounded rationality and endogenous fluctuations in particular. It is entirely self-contained and accessible to readers with only a limited knowledge of economic theory.
Price Dynamics in Equilibrium Models
Price Dynamics in Equilibrium Models - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Price Dynamics in Equilibrium Models write by Jan Tuinstra. This book was released on 1999. Price Dynamics in Equilibrium Models available in PDF, EPUB and Kindle.
Nonlinear Dynamics in Equilibrium Models
Nonlinear Dynamics in Equilibrium Models - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Nonlinear Dynamics in Equilibrium Models write by John Stachurski. This book was released on 2012-01-25. Nonlinear Dynamics in Equilibrium Models available in PDF, EPUB and Kindle. Optimal growth theory studies the problem of efficient resource allocation over time, a fundamental concern of economic research. Since the 1970s, the techniques of nonlinear dynamical systems have become a vital tool in optimal growth theory, illuminating dynamics and demonstrating the possibility of endogenous economic fluctuations. Kazuo Nishimura's seminal contributions on business cycles, chaotic equilibria and indeterminacy have been central to this development, transforming our understanding of economic growth, cycles, and the relationship between them. The subjects of Kazuo's analysis remain of fundamental importance to modern economic theory. This book collects his major contributions in a single volume. Kazuo Nishimura has been recognized for his contributions to economic theory on many occasions, being elected fellow of the Econometric Society and serving as an editor of several major journals. Chapter “Introduction” is available open access under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License via link.springer.com.
Equilibrium Models in Economics
Equilibrium Models in Economics - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Equilibrium Models in Economics write by Lawrence A. Boland. This book was released on 2017. Equilibrium Models in Economics available in PDF, EPUB and Kindle. The purpose and problems for equilibrium models -- Equilibrium models and explanation -- Equilibrium attainment vs. equilibrium necessities -- Does general equilibrium attainment imply universal maximization? -- Time and knowledge matters : general equilibrium attainment -- Equilibrium concepts and critiques : two cultures -- The limits of equilibrium models -- Recognizing knowledge in equilibrium models -- Limits of equilibrium methodology an educational dialogue -- Equilibrium models vs. realistic understanding -- Macroeconomic equilibrium model building and the stability problem -- Equilibrium models intended to overcome limits -- Equilibrium models vs. evolutionary economic models -- Equilibrium models vs. complexity economics -- Building models of price dynamics -- Building models of non-clearing markets -- Building models of learning and the equilibrium process -- Bibliography -- Names index -- Subject index
Equilibrium Exhaustible Resource Price Dynamics
Equilibrium Exhaustible Resource Price Dynamics - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Equilibrium Exhaustible Resource Price Dynamics write by Murray Carlson. This book was released on 2006. Equilibrium Exhaustible Resource Price Dynamics available in PDF, EPUB and Kindle. We develop equilibrium models of an exhaustible resource market where both prices and extraction choices are determined endogenously. Our analysis highlights a role for adjustment costs in generating price dynamics that are consistent with observed oil and gas forward prices as well as with the two-factor prices processes that were calibrated in Schwartz and Smith (2000). Stochastic volatility aries in our two-factor model as a natural consequence of production for oil and natural gas prices. Differences between the endogenous price processes considered in earlier papers can generate significant differences in both financial and real option values.
