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| Author: | Evans, G. Honkapohja, S. |
| Title: | Convergence for difference equations with vanishing time-dependence, with applications to adaptive learning |
| Journal: | Economic Theory
2000 : VOL. 15:3, p. 717-726 |
| Index terms: | EQUATIONS LEARNING TIME |
| Language: | eng |
| Abstract: | The authors provide conditions for local stability and instability of an equilibrium point in certain systems of nonautonomous nonstochastic difference equations. In the systems under study the influence of time is present through a positive scalar 'gain' parameter which converges in the limit to zero. These systems have recently been used to study the dynamics of adaptive learning in economic models, and the authors provide two economic illustrations of the formal results. |
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