Self-organised adjustments in a market with price-setting firms
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.
scientific article; zbMATH DE number 2077305