Equilibrium stability in a nonlinear cobweb model
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We demonstrate existence, and stability under adaptive learning, of restricted perceptions equilibria in a nonlinear cobweb model.
Evans , G W & McGough , B 2020 , ' Equilibrium stability in a nonlinear cobweb model ' , Economics Letters , vol. 193 , 109130 . https://doi.org/10.1016/j.econlet.2020.109130
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
DescriptionFinancial support from National Science Foundation Grant No. SES-1559209 is gratefully acknowledged.
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