Extended Model on Structural Stability and Robustness to Bounded Rationality

Yi Liao, Lujiang Miao, Lei Wang, Fei Xu, Chi Zhang and Quanxin Zhu

Complexity, 2021, vol. 2021, 1-6

Abstract: In this article, we focus on an extended model M¯ of bounded rationality. Based on a rationality function with lower semicontinuity, we analyze the relationship between structural stability and robustness of Ω¯. To further demonstrate the applicability of our theory, we introduce a model Ω¯0 containing an abstract rationality function and generalize abstract fuzzy economies. We demonstrate the structural stability of the extended model Ω¯0 at ξ¯,ɛ. That is to say, Ω¯0 is robust to the ξ¯,ɛ-equilibria.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:hin:complx:4902786

DOI: 10.1155/2021/4902786

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