As economists have increasingly accepted the notion that non-equilibrium behavior may be a reflection of the real world, interest has grown in modeling the emergence of turbulence as well as equilibrium. Earlier work by two of the authors used simulation to conduct a non-equilibrium analysis of...

As economists have increasingly accepted the notion that non-equilibrium behavior may be a reflection of the "real world," interest has grown in modeling the emergence of turbulence as well as equilibrium. It is well established that competitive actions and the associated reactions can...