Models of Economic Dynamics: Proceedings of a Workshop Held at the Ima, University of Minnesota, Minneapolis, USA, October 24 28, 1983

Sonnenschein, Hugo F.

ISBN 10: 3540160981 / ISBN 13: 9783540160984

Published by Springer 1986-03, 1986

About this Item

Seller Inventory # 6666-IUK-9783540160984

Bibliographic Details

• Title: Models of Economic Dynamics: Proceedings of a Workshop Held at the Ima, University of Minnesota, Minneapolis, USA, October 24 28, 1983
• Publisher: Springer 1986-03
• Publication Date: 1986
• Language: English
• ISBN 10: 3540160981
• ISBN 13: 9783540160984
• Binding: PF
• Condition: New

About this title

Synopsis

During the week of October 24-28, 1983, a group of mathematicians and eco- nomists met at the Institute for Mathematics and it Applications at the University of Minnesota. The workshop dealt with economic models in which time plays an essential role, and both the description of adjustment to a static equilibrium and the description of equilibrium paths were considered. From a mathematical point of view, discrete dynamical systems and the dynamics of ordi- nary and partial differential equations played a major role. The conference consisted of lectures by economists and by mathematicians which treated some of the principal ideas of economic dynamics. Donald Saari pro- vided some discrete dynamical systems background for a paper by Jean-Michel Grandmont on business cycles; the Grandmont paper was a major focus of the Workshop. Daniel Goroff, Jose Scheinkman, Christopher Sims. Neil Wallace. and Michael Woodford discussed the Grandmont paper after its presentation. The ideas of tatonnement were introduced by Leonid Hurwicz and extended by Andreu MasColell and H. Jerome Keisler. Four papers on economic dynamics follow (W. A. Brock, Truman Bewley. W. A. Brock and M. Rothschild and Yieh-Hei Wan). The remaining papers are devoted to issues of quantity and/or price adjustment (William Novshek and Hugo Sonnenschein. Phillipe Artzner. Carl Simon and Hugo Sonnenschein). equilibrium with a continuum of commodities (Larry Jones), and the adjustment of expectations (Lawrence Blume and James Jordan).