| Presentation | 2001/11/21 Let It Be : Chaotic Price Instability can be Beneficial Akio MATSUMOTO, |
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| PDF Download Page | PDF download Page Link |
| Abstract(in Japanese) | (See Japanese page) |
| Abstract(in English) | This study investigates an economic implication of chaotic motions generated by a discrete price adjustment processe. For this purpose, it uses a pure exchange model with two goods and two agents, constructs an explicit density function of chaotic price fluctuations to calculate the long-run average utility. This study analytically as well as numerically demonstrates that the average long-run utility can be larger than a utility taken at a stationary state. This result indicates that price instability can be beneficial. |
| Keyword(in Japanese) | (See Japanese page) |
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| Paper # | NLP2001-66 |
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| Conference Information | |
| Committee | NLP |
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| Conference Date | 2001/11/21(1days) |
| Place (in Japanese) | (See Japanese page) |
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| Topics (in Japanese) | (See Japanese page) |
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| Registration To | Nonlinear Problems (NLP) |
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| Language | ENG |
| Title (in Japanese) | (See Japanese page) |
| Sub Title (in Japanese) | (See Japanese page) |
| Title (in English) | Let It Be : Chaotic Price Instability can be Beneficial |
| Sub Title (in English) | |
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| 1st Author's Name | Akio MATSUMOTO |
| 1st Author's Affiliation | Department of Economics, Chuo University() |
| Date | 2001/11/21 |
| Paper # | NLP2001-66 |
| Volume (vol) | vol.101 |
| Number (no) | 464 |
| Page | pp.pp.- |
| #Pages | 10 |
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