Convergence of a market related game strategy |
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| Authors: | D.J. Gates J.A. Rickard D.J. Wilson |
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| Affiliation: | C.S.I.R.O., Division of Mathematics and Statistics, Canberra, A.C.T., Australia;Mathematics Department, University of Melbourne, Parkville, Victoria 3052, Australia |
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| Abstract: | A special case of the adjustment process for competing firms, introduced elsewhere, is analysed. It is proved that all equilibrium states are characterised by the vanishing of the Jacobian of the payoff functions of the market game, and that under suitable initial conditions the process is a contraction mapping, implying convergence to equilibrium. |
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