BUSINESS INFORM №6-2011

ABSTRACTS AND INFORMATION ABOUT AUTHORS

26

Section: Economic and Mathematical Modeling
Kovalevskiy D. V.
Price Adjustment Mechanisms Ensuring the Stability of Equilibrium in a Multidimensional Version of Scarf’s Model (p. 91 - 92)
A linearized-dimensional Scarf’s model with the Walrasian price adjustment mechanism (the classical tatonnement process) replaced by the proportional-integral-derivative (PID) price adjustment mechanism is studied. It is shown that Scarf’s economy, while being unstable under the Walrasian mechanism, converges to equilibrium under the PID mechanism.

Kovalevskiy Dmitriy Valerievich – candidate of physical and mathematical sciences, senior research fellow, head of group, Nansen International Center on Environment and Remote Sensing (St. Petersburg, Russia)

Article is written in English
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Reference to this article:
Kovalevskiy, Dmitriy Valerievich. (2011) “Price Adjustment Mechanisms Ensuring the Stability of Equilibrium in a Multidimensional Version of Scarf’s Model.” Business Inform 6:91–92.

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