evolutionary economics are presented andcompared. Attention is devoted, among others, to Darwinian selection,punctuated equilibrium … change, irreversible change, unpredictability, qualitativechange and disequilibrium, are examined. It is argued that there …

evolutionary economics are presented andcompared. Attention is devoted, among others, to Darwinian selection,punctuated equilibrium … change, irreversible change, unpredictability, qualitativechange and disequilibrium, are examined. It is argued that there …

existence and uniqueness of Markovian equilibrium are weIl known for the compact state space case, no similar sufficient … algorithm that will prove asymptotically consistent when computing Markovian equilibrium. …

function of creating disequilibrium and the conventional equilibrating role of moving the industry to a new equilibrium. Second … long periods of disequilibrium after which a new equilibrium is attained. Moreover, we find ample support for the statement …This paper conducts the first general equilibrium analysis of the role of entry, exit and profits in industry dynamics …

existence and uniqueness of Markovian equilibrium are weIl known for the compact state space case, no similar sufficient … algorithm that will prove asymptotically consistent when computing Markovian equilibrium. …

disequilibrium but little empirical research has examined firm entry and exit in this context. We redress this by modelling the … interrelationship between firm entry and exit in disequilibrium. Introducing a new methodology we investigate whether this … interrelationship differs between market ‘undershooting’ (the actual number of firms is below the equilibrium number) and ‘overshooting …

In a standard general equilibrium model it is assumed that there are no price restictionsand that prices adjust … infinitely fast to their equilibrium values. In this paper the set ofadmissible prices is allowed to be an arbitrary convex set …. For such an arbitrary set it cannotbe guaranteed that there exists a constrained equilibrium satisfying the usual …

function of creating disequilibrium and the conventional equilibrating role of moving the industry to a new equilibrium. Second … long periods of disequilibrium after which a new equilibrium is attained. Moreover, we find ample support for the statement …This paper conducts the first general equilibrium analysis of the role of entry, exit and profits in industry dynamics …