On the attractivity of a class of homogeneous dynamic economic systems

Li, W; Rychlik, M; Szidarovszky, F; Chiarella, C

On the attractivity of a class of homogeneous dynamic economic systems

Li, W Rychlik, M Szidarovszky, F Chiarella, C

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Publication Type:: Journal Article
Citation:: Nonlinear Analysis, Theory, Methods and Applications, 2003, 52 (6), pp. 1617 - 1636
Issue Date:: 2003-06-01

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Field	Value	Language
dc.contributor.author	Li, W	en_US
dc.contributor.author	Rychlik, M	en_US
dc.contributor.author	Szidarovszky, F	en_US
dc.contributor.author	Chiarella, C	en_US
dc.date.issued	2003-06-01	en_US
dc.identifier.citation	Nonlinear Analysis, Theory, Methods and Applications, 2003, 52 (6), pp. 1617 - 1636	en_US
dc.identifier.issn	0362-546X	en_US
dc.identifier.uri	http://hdl.handle.net/10453/3469
dc.description.abstract	The attractivity properties of the set of equilibria of a special class of homogeneous dynamic economic systems are examined. The nonlinearity of the models and the presence of eigenvalues with zero real parts make the application of the classical theory impossible. Some principles of the modern theory of dynamical systems and invariant manifolds are applied, and the local attractivity of the set of equilibria is verified under mild conditions. As an application, special labor-managed oligopolies are investigated. © 2003 Elsevier Science Ltd. All rights reserved.	en_US
dc.relation.ispartof	Nonlinear Analysis, Theory, Methods and Applications	en_US
dc.relation.isbasedon	10.1016/S0362-546X(02)00275-4	en_US
dc.subject.classification	Applied Mathematics	en_US
dc.title	On the attractivity of a class of homogeneous dynamic economic systems	en_US
dc.type	Journal Article
utslib.citation.volume	6	en_US
utslib.citation.volume	52	en_US
utslib.for	0102 Applied Mathematics	en_US
utslib.for	0101 Pure Mathematics	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	closed_access
pubs.issue	6	en_US
pubs.publication-status	Published	en_US
pubs.volume	52	en_US

Abstract:

The attractivity properties of the set of equilibria of a special class of homogeneous dynamic economic systems are examined. The nonlinearity of the models and the presence of eigenvalues with zero real parts make the application of the classical theory impossible. Some principles of the modern theory of dynamical systems and invariant manifolds are applied, and the local attractivity of the set of equilibria is verified under mild conditions. As an application, special labor-managed oligopolies are investigated. © 2003 Elsevier Science Ltd. All rights reserved.

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http://hdl.handle.net/10453/3469