Set Valued Dynamical Systems and Economic Flow

1. Front Matter

   Pages N2-VIII

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2. Introduction

   • Louis J. Cherene Jr.

   Pages 1-3

3. A General Framework for Dynamic Economic Systems

   • Louis J. Cherene Jr.

   Pages 4-15

4. The General Theory of Set Valued Semidynamical Systems

   • Louis J. Cherene Jr.

   Pages 16-33

5. The Edgeworth Barter Process

   • Louis J. Cherene Jr.

   Pages 34-41

6. Comparative Dynamics of Models of Adaptive and Optimal Economic Growth

   • Louis J. Cherene Jr.

   Pages 42-60

7. The Structure of Optimality in Dynamic Models

   • Louis J. Cherene Jr.

   Pages 61-76

8. Erratum to: The General Theory of Set Valued Semidynamical Systems

   • Louis J. Cherene Jr.

   Pages 85-85

9. Erratum to: The Edgeworth Barter Process

   • Louis J. Cherene Jr.

   Pages 85-85

10. Erratum to: Comparative Dynamics of Models of Adaptive and Optimal Economic Growth

    • Louis J. Cherene Jr.

    Pages 85-85

11. Back Matter

    Pages 77-89

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The purpose of this monograph is to illuminate the central issues of dynamic analysis applied to economic models, using a generally accepted language of the study of dynamical systems at a level of sophistication likely to be understood by an economist versed in elementary topology. Whether an economic system is governed by a first order difference equation or several simultaneous multivalued partial differential equations, its solution is a flow that determines the state of the system given an initial condition and elapsed time. Thus the flow of a system is the central concept from which the theory here expounded develops. The explicit examples and applications herein are discrete time models, but the theoretical re­ sults hold for continuous time models as well. The supplementary bibliography in­ cludes several papers at the frontier of set-valued dynamics which may be viewed using the basic concepts defined in this text; all of these works involve demon­ strating that (almost) all possible trajectories that a system may follow converge to some set of equilibria. The application of set valued dynamical analysis to economic models is pro~ vided to engender in the reader an appreciation for the relevance of these con­ cepts to economic theory.

• Wachstum
• Wachstum (Wirtsch.)
• dynamical systems
• economic growth
• economic systems
• economic theory
• gender
• population
• population growth
• rating

• Modelling Research Group, Department of Economics, University of Southern California, University Park, Los Angeles, USA

  Louis J. Cherene

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