Multiple equilibria and chaos in a discrete tâtonnement process

Taisei Kaizoji ()

MPRA Paper from University Library of Munich, Germany

Abstract: The purpose of this note is to demonstrate a sufficient condition for discrete tâtonnement process to lead to chaos in a general equilibrium model with multiple commodities. The result indicates that as the speed of price adjustment increases the discrete tâtonnement process is complex in a general equilibrium economy in which there are multiple equilibria.

Keywords: Multiple equilibria, Tâtonnement process; Nonlinear dynamics; Chaos (search for similar items in EconPapers)
JEL-codes: B21 C02 D50 (search for similar items in EconPapers)
Date: 2010-07-15
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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https://mpra.ub.uni-muenchen.de/24002/1/MPRA_paper_24002.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/40795/3/MPRA_paper_40795.pdf revised version (application/pdf)

Related works:
Journal Article: Multiple equilibria and chaos in a discrete tâtonnement process (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:24002

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