The asymptotic behavior of dynamic producer-consumer systems

DSpace/Manakin Repository

Search OPUS

Advanced Search


My Account

Show simple item record Szidarovszky, F Chiarella, C 2009-12-21T02:28:06Z 2004-06
dc.identifier.citation Mathematical and Computer Modelling, 2004, 39 (11-12), pp. 1297 - 1312
dc.identifier.issn 0895-7177
dc.identifier.other C1 en_US
dc.description.abstract Dynamic Arrow-type price dynamics are investigated in a continuous time framework. The existence of a unique equilibrium is first proved under realistic conditions. Then, the local asymptotic stability of the equilibrium in the presence of instantaneous price and output information is shown. Continuously distributed time lags are then assumed in obtaining and implementing price and output information, or equivalently, it may be assumed that the firms and/or the market wants to react to long term effects rather than to follow sudden changes in price or outputs. If a time lag is assumed only in estimating the demand in the market, then the local asymptotic stability of the equilibrium is preserved. If the producers also use delayed information, then instability may occur. Stability conditions are derived and in the case of bifurcation the possibility of the birth of limit cycles is explored. © 2004 Elsevier Ltd. All rights reserved.
dc.language eng
dc.relation.isbasedon 10.1016/j.mcm.2004.06.009
dc.title The asymptotic behavior of dynamic producer-consumer systems
dc.type Journal Article
dc.description.version Published
dc.parent Mathematical and Computer Modelling
dc.journal.volume 11-12
dc.journal.volume 39
dc.journal.number 11-12 en_US
dc.publocation Oxford en_US
dc.identifier.startpage 1297 en_US
dc.identifier.endpage 1312 en_US BUS.School of Finance and Economics en_US
dc.conference Verified OK en_US
dc.for 0102 Applied Mathematics
dc.personcode 100815
dc.personcode 716350
dc.percentage 100 en_US Applied Mathematics en_US
dc.classification.type FOR-08 en_US
dc.description.keywords Bifurcation
dc.description.keywords Delayed information
dc.description.keywords Dynamic systems
dc.description.keywords Producer-consumer systems
dc.description.keywords Stability
pubs.embargo.period Not known
pubs.organisational-group /University of Technology Sydney
pubs.organisational-group /University of Technology Sydney/Faculty of Business
pubs.organisational-group /University of Technology Sydney/Faculty of Business/Finance
pubs.organisational-group /University of Technology Sydney/Strength - Quantitative Finance
utslib.copyright.status Closed Access 2015-04-15 12:17:09.805752+10
pubs.consider-herdc true
utslib.collection.history Closed (ID: 3)
utslib.collection.history Finance (ID: 371)

Files in this item

This item appears in the following Collection(s)

Show simple item record