The Cobweb Theorem

Mordecai Ezekiel

The Quarterly Journal of Economics, 1938, vol. 52, issue 2, 255-280

Abstract: History of the cobweb theorem, 255.— Restatement of the theory of market price, 257.— Restatement of the theory of normal price, 261. — Summary of cobweb theorem: (1) continuous fluctuation, 263; (2) divergent fluctuation, 263; (3) Convergent fluctuation, 265.— Extension of the cobweb analysis: (1a) two-period lag in supply, continuous fluctuation, 266; (3b) three-period lag in supply, convergent fluctuation, 266.— Cycles revealed, 268.— Limitations of the theory, 272.— An illustrative case from actual data, 274.— Not all commodity cycles cobwebs, 277.— Equilibrium economics in the light of the cobweb theory, 278.

Date: 1938
References: Add references at CitEc
Citations: View citations in EconPapers (237)

Downloads: (external link)
http://hdl.handle.net/10.2307/1881734 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:qjecon:v:52:y:1938:i:2:p:255-280.

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

The Quarterly Journal of Economics is currently edited by Robert J. Barro, Lawrence F. Katz, Nathan Nunn, Andrei Shleifer and Stefanie Stantcheva

More articles in The Quarterly Journal of Economics from President and Fellows of Harvard College
Bibliographic data for series maintained by Oxford University Press ().