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Set Valued Dynamical Systems and Economic Flow - Lecture Notes in Economics and Mathematical Systems 158 (Paperback)
  • Set Valued Dynamical Systems and Economic Flow - Lecture Notes in Economics and Mathematical Systems 158 (Paperback)
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Set Valued Dynamical Systems and Economic Flow - Lecture Notes in Economics and Mathematical Systems 158 (Paperback)

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£89.99
Paperback 83 Pages / Published: 01/05/1978
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The purpose of this monograph is to illuminate the central issues of dynamic analysis applied to economic models, using a generally accepted language of the study of dynamical systems at a level of sophistication likely to be understood by an economist versed in elementary topology. Whether an economic system is governed by a first order difference equation or several simultaneous multivalued partial differential equations, its solution is a flow that determines the state of the system given an initial condition and elapsed time. Thus the flow of a system is the central concept from which the theory here expounded develops. The explicit examples and applications herein are discrete time models, but the theoretical re- sults hold for continuous time models as well. The supplementary bibliography in- cludes several papers at the frontier of set-valued dynamics which may be viewed using the basic concepts defined in this text; all of these works involve demon- strating that (almost) all possible trajectories that a system may follow converge to some set of equilibria. The application of set valued dynamical analysis to economic models is pro~ vided to engender in the reader an appreciation for the relevance of these con- cepts to economic theory.

Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
ISBN: 9783540088479
Number of pages: 83
Weight: 190 g
Dimensions: 244 x 170 x 5 mm
Edition: Softcover reprint of the original 1st ed. 197

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