Stability and Non-Uniqueness of Equilibrium in an Open Market Model

In this paper we consider an open market model, where the supply and demand functions are restored by their price elasticities. We obtained the conditions on the stability and non-uniqueness of equilibrium in the model as the corollaries of the coincidence point theorems for a covering and Lipschitz continuous mappings. © 2022 IEEE.

Authors
Kotyukov A. , Pavlova N.
Conference proceedings
Proceedings of 2022 15th International Conference Management of Large-Scale System Development, MLSD 2022
Publisher
Institute of Electrical and Electronics Engineers Inc.
Language
English
State
Published
DOI
10.1109/MLSD55143.2022.9934726
Year
2022
Organizations
  • 1 V.F. Krotov Laboratory of Optimal Controllable Systems, V.A. Trapeznikov Institute of Control Sciences of Ras, Moscow, Russian Federation
  • 2 Moscow Institute of Physics and Technology, Nikol'skii Mathematical Institute, Rudn University, Higher Mathematics Department, Moscow, Russian Federation
Keywords
coincidence point; covering map; demand; equilibrium; price elasticity; supply
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