Price adjustment in an economy with Markov disturbance
type: Item
instance of: scholarly article
title: Price adjustment in an economy with Markov disturbance
zbMATH Open document ID: 0568.90018
DOI: 10.1016/0165-4896(85)90046-0
published in: Mathematical Social Sciences
publication date: 1985-01-01T00:00:00Z
review text: Suppose prices p are adjusted in accordance with excess demand z by \(\Delta p=k_ 1z\). We determine the optimal constant \(k_ 1\) given that demand is the sum of a linear function of price and a Markov disturbance. Supply is fixed.
Mathematics Subject Classification ID: 91B62
Mathematics Subject Classification ID: 91B24
zbMATH DE Number: 3908117
zbMATH Keywords: tatonnement price
zbMATH Keywords: Markov disturbance
zbMATH Keywords: price adjustment
author: Ki Hang Kim
author: Fred Roush
MaRDI profile type: Publication
full work available at URL: 0165-4896(85)90046-0
OpenAlex ID: W2052576325
cites work: Q4163479
description: scientific article; zbMATH DE number 3908117