Review, 1960). Tatonnement theory predicts that prices are globally unstable for this economy, i.e. unless prices start at … the competitive equilibrium they oscillate without converging. Anderson et al. (Journal of Economic Theory, 2004) report … convergence. We replicate their experiments and confirm that tatonnement theory predicts the direction of price changes remarkably …

Laidler -- 3. The normative origins of general equilibrium theory, or, Walras's attempts at reconciling economic efficiency … competition / Jean-Pascal Benassy -- 8. General equilibrium theory and public finance / Anthony B. Atkinson -- 9. Macroeconomics …