Self-organised adjustments in a market with price-setting firms
type: Item
instance of: scholarly article
title: Self-organised adjustments in a market with price-setting firms
zbMATH Open document ID: 1057.91024
DOI: 10.1016/S0960-0779(02)00670-7
author: Börje Johansson
author: Håkan Persson
published in: Chaos, Solitons and Fractals
publication date: 2004-07-01T00:00:00Z
review text: The authors discuss the rationality of the three price-setting rules. The equilibrium described is disturbed by particular two ``exogeneous'' phenomena. The first is a change in the demand of individual customers. The second is a shift in the cost function of any supplier. When this occurs adjustments are set into motion again and the corresponding dynamic equilibrium will change.
reviewed by: Messoud Efendiev
Mathematics Subject Classification ID: 91B24
zbMATH DE Number: 2077305
zbMATH Keywords: cost function
zbMATH Keywords: equilibrium
MaRDI profile type: Publication
cites work: Rational Expectations Equilibrium: Generic Existence and the Information Revealed by Prices
cites work: Network economics: a variational inequality approach
cites work: Variational inequalities for international general financial equilibrium modeling and computation
cites work: A First Course in Optimization Theory
full work available at URL: s0960-0779(02)00670-7
OpenAlex ID: W2095506676
description: scientific article; zbMATH DE number 2077305