Simulating tatonnement in a production economy |
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| Authors: | Claus Weddepohl |
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| Institution: | (1) Department of Economics, University of Amsterdam, Roetersstraat 11, NL-1018 WB, Amsterdam, The Netherlands, NL |
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| Abstract: | Summary. The paper presents some simulation results for a tatonnement process in a simple general equilibrium model with production.
It shows that the discrete time tatonnement process can generate periodic and chaotic paths.
Received December 14, 1994 revised version April 29, 1996 |
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| Keywords: | : Price adjustment Tatonnement Chaos |
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