Non-Fiction Books:

Set Valued Dynamical Systems and Economic Flow

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Description

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.
Release date Australia
May 1st, 1978
Author
Audience
  • Professional & Vocational
Edition
Softcover reprint of the original 1st ed. 1978
Illustrations
1 Illustrations, black and white; VIII, 83 p. 1 illus.
Pages
83
Dimensions
170x244x5
ISBN-13
9783540088479
Product ID
6192894

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