Abstract
In this chapter we review the recent literature on the dynamics of the tâtonnement process, especially from the perspective of the theory of nonlinear dynamics We show that complicated dynamical phenomena emerge naturally in the tâtonnement process. We also discuss some conceptual drawbacks of the tâtonnement process and directions for future research.
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Tuinstra, J. (2002). Nonlinear Dynamics and the Stability of Competitive Equilibria. In: Hommes, C.H., Ramer, R., Withagen, C.A. (eds) Equilibrium, Markets and Dynamics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-56131-3_23
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DOI: https://doi.org/10.1007/978-3-642-56131-3_23
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