From: Ian Wright (iwright@GMAIL.COM)
Date: Thu Sep 23 2004 - 19:27:33 EDT
Hi Paul >However, I suspect that there is a virtue in thinking of >familiar things in a different form I wonder if you think that your representation will allow dynamic models of exchange economies to be constructed that update via discrete matrix operations. If so, one big benefit would be that it might be easier to prove convergence properties as linear algebra is so well-understood. In your scheme, can a set of commodity exchanges be represented as a single value-conserving operator, so that each time step may be interpreted as the application of such an operator. The operator applied at each step would be conditional on the nxm matrix A, and there would need to be some additional rules to define that construction. I am very interested in anything that makes dynamics more amenable to analysis. -Ian.
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