Set Valued Dynamical Systems and Economic Flow

  • Louis J. ChereneJr.

Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 158)

Table of contents

  1. Front Matter
    Pages N2-VIII
  2. Louis J. Cherene Jr.
    Pages 1-3
  3. Louis J. Cherene Jr.
    Pages 4-15
  4. Louis J. Cherene Jr.
    Pages 34-41
  5. Louis J. Cherene Jr.
    Pages 61-76
  6. Louis J. Cherene Jr.
    Pages 85-85
  7. Back Matter
    Pages 77-89

About this book


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.


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Authors and affiliations

  • Louis J. ChereneJr.
    • 1
  1. 1.Modelling Research Group, Department of EconomicsUniversity of Southern CaliforniaUniversity Park, Los AngelesUSA

Bibliographic information

  • DOI
  • Copyright Information Springer-Verlag Berlin Heidelberg 1978
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Springer Book Archive
  • Print ISBN 978-3-540-08847-9
  • Online ISBN 978-3-642-45504-9
  • Series Print ISSN 0075-8442
  • Buy this book on publisher's site