On the attractivity of a class of homogeneous dynamic economic systems

Weiye Li; Marek Rychlik; Ferenc Szidarovszky; Carl Chiarella

doi:10.1016/S0362-546X(02)00275-4

On the attractivity of a class of homogeneous dynamic economic systems

Weiye Li, Marek Rychlik, Ferenc Szidarovszky, Carl Chiarella

Mathematics

Research output: Contribution to journal › Article › peer-review

5 Scopus citations

Abstract

The attractivity properties of the set of equilibria of a special class of homogeneous dynamic economic systems are examined. The nonlinearity of the models and the presence of eigenvalues with zero real parts make the application of the classical theory impossible. Some principles of the modern theory of dynamical systems and invariant manifolds are applied, and the local attractivity of the set of equilibria is verified under mild conditions. As an application, special labor-managed oligopolies are investigated.

Original language	English (US)
Pages (from-to)	1617-1636
Number of pages	20
Journal	Nonlinear Analysis, Theory, Methods and Applications
Volume	52
Issue number	6
DOIs	https://doi.org/10.1016/S0362-546X(02)00275-4
State	Published - Jun 2003

Keywords

Attractivity
Attractor
Invariant manifold
Labor-managed oligopoly
Stability

ASJC Scopus subject areas

Analysis
Applied Mathematics

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10.1016/S0362-546X(02)00275-4

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abstract = "The attractivity properties of the set of equilibria of a special class of homogeneous dynamic economic systems are examined. The nonlinearity of the models and the presence of eigenvalues with zero real parts make the application of the classical theory impossible. Some principles of the modern theory of dynamical systems and invariant manifolds are applied, and the local attractivity of the set of equilibria is verified under mild conditions. As an application, special labor-managed oligopolies are investigated.",

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author = "Weiye Li and Marek Rychlik and Ferenc Szidarovszky and Carl Chiarella",

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AU - Li, Weiye

AU - Rychlik, Marek

AU - Szidarovszky, Ferenc

AU - Chiarella, Carl

N1 - Funding Information: This research is supported by the US Department of Energy, under contract W-7405-ENG-36.

PY - 2003/6

Y1 - 2003/6

N2 - The attractivity properties of the set of equilibria of a special class of homogeneous dynamic economic systems are examined. The nonlinearity of the models and the presence of eigenvalues with zero real parts make the application of the classical theory impossible. Some principles of the modern theory of dynamical systems and invariant manifolds are applied, and the local attractivity of the set of equilibria is verified under mild conditions. As an application, special labor-managed oligopolies are investigated.

AB - The attractivity properties of the set of equilibria of a special class of homogeneous dynamic economic systems are examined. The nonlinearity of the models and the presence of eigenvalues with zero real parts make the application of the classical theory impossible. Some principles of the modern theory of dynamical systems and invariant manifolds are applied, and the local attractivity of the set of equilibria is verified under mild conditions. As an application, special labor-managed oligopolies are investigated.

KW - Attractivity

KW - Attractor

KW - Invariant manifold

KW - Labor-managed oligopoly

KW - Stability

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On the attractivity of a class of homogeneous dynamic economic systems

Abstract

Keywords

ASJC Scopus subject areas

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