Methods of cobweb model and institutional economic analysis are employed.
With the use of the shrinked-map principle, we obtain a more general condition of the stability in cobweb model, where the usually cited linear hypothesis is canceled.
Methods of cobweb model and institutional economic analysis are employed.
With the use of the shrinked-map principle, we obtain a more general condition of the stability in cobweb model, where the usually cited linear hypothesis is canceled.