Price expectations and global stability in economic systems
Publication
, Journal Article
Burmeister, E; Graham, DA
Published in: Automatica
January 1, 1975
In this paper we study the global stability properties of both descriptive and optimally controlled economic systems possessing inherent non-linearities. Stability conditions for these non-linear models are established, and a complete characterization of the dynamic path is obtained. Moreover, the relationship between the global stability properties of descriptive and optimal control models is clarified, the trajectories of descriptive models are compared with those of the planning models and conditions are examined under which the behavior of completely stable descriptive models approximates optimal solutions. © 1975.
Duke Scholars
Published In
Automatica
DOI
ISSN
0005-1098
Publication Date
January 1, 1975
Volume
11
Issue
5
Start / End Page
487 / 497
Related Subject Headings
- Industrial Engineering & Automation
- 49 Mathematical sciences
- 46 Information and computing sciences
- 40 Engineering
- 09 Engineering
- 08 Information and Computing Sciences
- 01 Mathematical Sciences
Citation
APA
Chicago
ICMJE
MLA
NLM
Burmeister, E., & Graham, D. A. (1975). Price expectations and global stability in economic systems. Automatica, 11(5), 487–497. https://doi.org/10.1016/0005-1098(75)90024-2
Burmeister, E., and D. A. Graham. “Price expectations and global stability in economic systems.” Automatica 11, no. 5 (January 1, 1975): 487–97. https://doi.org/10.1016/0005-1098(75)90024-2.
Burmeister E, Graham DA. Price expectations and global stability in economic systems. Automatica. 1975 Jan 1;11(5):487–97.
Burmeister, E., and D. A. Graham. “Price expectations and global stability in economic systems.” Automatica, vol. 11, no. 5, Jan. 1975, pp. 487–97. Scopus, doi:10.1016/0005-1098(75)90024-2.
Burmeister E, Graham DA. Price expectations and global stability in economic systems. Automatica. 1975 Jan 1;11(5):487–497.
Published In
Automatica
DOI
ISSN
0005-1098
Publication Date
January 1, 1975
Volume
11
Issue
5
Start / End Page
487 / 497
Related Subject Headings
- Industrial Engineering & Automation
- 49 Mathematical sciences
- 46 Information and computing sciences
- 40 Engineering
- 09 Engineering
- 08 Information and Computing Sciences
- 01 Mathematical Sciences