Publication detail

Walras dynamic model with the influence of history

NOVOTNÁ, V. ŠKAPA, S.

Original Title

Walras dynamic model with the influence of history

Type

conference paper

Language

English

Original Abstract

There are various models of social phenomena formulated in economics, to provide simplified descriptions of the investigated reality. These models enable the interpretation of certain theories, they form a link between theory and reality and allow experiments where experiments on real objects are uneconomical. Our paper demonstrates the possibility of using delay functional differential equations in modelling of market relationships. The aim of this paper is to analyse the behaviour of the Walras dynamic model taking into account the influence of history, applying modern methods of functional analysis. The application part shows the model construction for a real market and the results are presented graphically using Maple.

Keywords

Walras model, Dynamic Modelling, Delay Differential Equations

Authors

NOVOTNÁ, V.; ŠKAPA, S.

Released

21. 5. 2018

Publisher

Ibima Publishing

Location

Milano

ISBN

978-0-9998551-0-2

Book

Inovation Management and Education Excellence through Vision 2020

Pages from

884

Pages to

892

Pages count

11

BibTex

@inproceedings{BUT147590,
  author="Veronika {Novotná} and Stanislav {Škapa}",
  title="Walras dynamic model with the influence of history",
  booktitle="Inovation Management and Education Excellence through Vision 2020",
  year="2018",
  pages="884--892",
  publisher="Ibima Publishing",
  address="Milano",
  isbn="978-0-9998551-0-2"
}