Is Dynamic Stability of Walrasian Equilibrium Achieved through Falling Target Utilities?
Author InfoAbraham, Haim Whittaker, John Abstract It is known that, if disequilibrium trade occurs according to the assumptions of the Hahn Process, Walrasian stability is achieved by means of falling target utilities. This paper shows, by means of an example in a pure exchange economy, that the assumptions of the Hahn Process are not necessarily mutually consistent. Copyright 1989 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association. Download InfoTo download: If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
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