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is focused on the stability of the periodic solution and dynamical properties of local bifurcations of this system. The …
Persistent link: https://www.econbiz.de/10010870356
different thresholds are considered. The sufficient conditions for the existence and stability of the semi-trivial periodic …
Persistent link: https://www.econbiz.de/10010870626
guaranteed. Here, we introduce a mechanism under which stability of the diffusion process does not necessarily hold. When the … diffusion pattern. Typically, the process of adopting a new piece of knowledge will be translated into an s-shaped trajectory … for the adoption rate. This type of process of diffusion tends to be stable in the sense that convergence from any initial …
Persistent link: https://www.econbiz.de/10008642499
In this study, we first review the bifurcation phenomena in dynamic economic systems and point out the importance of bifurcations together with a summary of the common types of bifurcations which have been encountered in economic research. Although bifurcation analysis is a relatively new...
Persistent link: https://www.econbiz.de/10009430886
development of a methodology that, based on the concepts of asymptotic stability and accumulated deviations from equilibrium (ADE … tool for practitioners specializing in the stability analysis of systems with complex dynamics, especially those with … particular state variable of the system, such as inventory, implies asymptotic stability for that variable. The stabilization …
Persistent link: https://www.econbiz.de/10009431072
By constructing a unique international database on generalized trust covering 142 countries worldwide for the 41 years from 1980 to 2020, this paper finds a pronounced intertemporal variation of generalized trust over time in a majority of countries across the globe. 3 When analyzing the time...
Persistent link: https://www.econbiz.de/10015271878
In this paper we analyze equilibrium determinacy in a sticky price model in which the pass-through from policy rates to retail interest rates is sluggish and potentially incomplete. In addition, we empirically characterize and compare the interest rate pass-through process in the euro area and...
Persistent link: https://www.econbiz.de/10013370035
We study rotation programs within the standard implementation framework under complete information. A rotation program is a myopic stable set whose states are arranged circularly, and agents can effectively move only between two consecutive states. We provide characterizing conditions for the...
Persistent link: https://www.econbiz.de/10013394373
We explore the possibility of designing matching mechanisms that can accommodate non-standard choice behavior. We pin down the necessary and sufficient conditions on participants' choice behavior for the existence of stable and incentive compatible mechanisms. Our results imply that...
Persistent link: https://www.econbiz.de/10013464276
Parsimony is a desirable feature of economic models but almost all human behaviors are characterized by vast individual variation that appears to defy parsimony. How much parsimony do we need to give up to capture the fundamental aspects of a population's distributional preferences and to...
Persistent link: https://www.econbiz.de/10014417651