Free-market prices tend to equilibria

Simple item page
dc.contributor.authorDiacu, Florin
dc.date.accessioned2010-05-27T18:04:34Z
dc.date.available2010-05-27T18:04:34Z
dc.date.copyright1997en
dc.date.issued2010-05-27T18:04:34Z
dc.description.abstractIgnoring the way the exchange of goods takes place and taking into account only the result of the trade, we analyze the relation between demand, supply, and prices. We prove that in a free-market economy ruled only by demand and supply there are infinitely many equilibria, all stable, and that prices tend either to one of the equilibria or to zero. Moreover, we show that if other forces act on the market then, generically, no equilibria exist.en
dc.description.sponsorshipNSERC Grant OGP0122045en
dc.identifier.urihttp://hdl.handle.net/1828/2824
dc.language.isoenen
dc.relation.ispartofseriesDMS-793-IRen
dc.titleFree-market prices tend to equilibriaen
dc.typeTechnical Reporten

Files

Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
DMS 793.pdf
Size:
428.66 KB
Format:
Adobe Portable Document Format
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.84 KB
Format:
Item-specific license agreed upon to submission
Description:
Download

Collections

Technical Reports (Mathematics and Statistics)
 
University of Victoria Libraries

We acknowledge and respect the Lək̓ʷəŋən (Songhees and Esquimalt) Peoples on whose territory the university stands, and the Lək̓ʷəŋən and W̱SÁNEĆ Peoples whose historical relationships with the land continue to this day.