A Disequilibrium Model of Interactive Consumers

Steven D. Silver

Chapter 2 in Networked Consumers, 2012, pp 24-33 from Palgrave Macmillan

Abstract: Abstract Disequilibrium states are integrated into influential accounts of dynamics of a range of disciplines that include economics (Helbing and Platkowski 2000; Polemarchakis 1979), developmental psychology (Piaget 1954), biological science (Feldman and Cavalli-Sforza 1984) and thermodynamics (Sertorio 1991; Chaisson 2005). I follow others in recognizing that there are bases to expect disequilibrium states to be more common than typically recognized in interactive consumers (e.g. Bewley 1999; Demichelis and Polemarchakis 2007; Fontana and Gerard 1999; Gomes and Jehiel 2005).

Keywords: Small World Network; Unstable Equilibrium; Preference Variable; Poverty Trap; Exogenous Effect (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-36255-0_2

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DOI: 10.1057/9780230362550_2

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