Equilibrium stability in a nonlinear cobweb model

George W. Evans; Bruce McGough

doi:10.1016/j.econlet.2020.109130

Equilibrium stability in a nonlinear cobweb model

George W. Evans, Bruce McGough

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Abstract

We demonstrate existence, and stability under adaptive learning, of restricted perceptions equilibria in a nonlinear cobweb model.

Original language	English
Article number	109130
Journal	Economics Letters
Volume	193
Early online date	25 May 2020
DOIs	https://doi.org/10.1016/j.econlet.2020.109130
Publication status	Published - Aug 2020

Keywords

E-stability
Adaptive learning
Restricted perceptions equilibrium
Cobweb model

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10.1016/j.econlet.2020.109130

Evans_2020_EL_EquilibriumStability_AAM
Copyright © 2020 Published by Elsevier B.V. This work has been made available online in accordance with publisher policies or with permission. Permission for further reuse of this content should be sought from the publisher or the rights holder. This is the author created accepted manuscript following peer review and may differ slightly from the final published version. The final published version of this work is available at https://doi.org/10.1016/j.econlet.2020.109130
Accepted author manuscript, 514 KBLicence: CC BY-NC-ND

Cite this

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title = "Equilibrium stability in a nonlinear cobweb model",

abstract = "We demonstrate existence, and stability under adaptive learning, of restricted perceptions equilibria in a nonlinear cobweb model.",

keywords = "E-stability, Adaptive learning, Restricted perceptions equilibrium, Cobweb model",

author = "Evans, {George W.} and Bruce McGough",

note = "Financial support from National Science Foundation Grant No. SES-1559209 is gratefully acknowledged.",

year = "2020",

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language = "English",

volume = "193",

journal = "Economics Letters",

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AU - Evans, George W.

AU - McGough, Bruce

N1 - Financial support from National Science Foundation Grant No. SES-1559209 is gratefully acknowledged.

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N2 - We demonstrate existence, and stability under adaptive learning, of restricted perceptions equilibria in a nonlinear cobweb model.

AB - We demonstrate existence, and stability under adaptive learning, of restricted perceptions equilibria in a nonlinear cobweb model.

KW - E-stability

KW - Adaptive learning

KW - Restricted perceptions equilibrium

KW - Cobweb model

U2 - 10.1016/j.econlet.2020.109130

DO - 10.1016/j.econlet.2020.109130

M3 - Article

SN - 0165-1765

VL - 193

JO - Economics Letters

JF - Economics Letters

M1 - 109130

ER -

Equilibrium stability in a nonlinear cobweb model

Abstract

Keywords

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