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Existence and uniqueness of the producers’ optimal adjustment trajectory in a Debreu-type economy

100%
Lipieta A.
Mathematical Economics
|
2015
|
issue 11(18)
55-68
EN
The aim of this paper is the analysis of adjustment processes in a Debreu-type economy. The reasons taken into account, e.g. incentives, cooperation of economic agents under full access to information, the way of sending messages described formally, are the basis for defining adjustment trajectories. Some reasons, such as introducing new legal requirements or implementing new profitable technologies formulated in mathematical language, can contribute to the transformation of the production sector and induce an appropriate way of adjusting the producers’ plans of action. This survey relies on an examination of the relationships between quantities of goods and quantities of the productive factors used to produce them. As a result, the optimal producers’ trajectories, due to the criterion of cost minimization, are defined. The paper also contains some remarks on the uniqueness of the trajectories under study.
2
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Adjustment Processes Resulting in Equilibrium in the Private Ownership Economy

88%
Lipieta A.
Central European Journal of Economic Modelling and Econometrics
|
2018
|
issue 4
3
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The role of imitative mechanisms within the economic evolution

88%
Lipieta A.
Economics and Business Review
|
2018
|
vol. 4(18)
|
issue 4
64-82
EN
In the light of Schumpeter’s pioneering vision of economic evolution the innovations and innovative entrepreneurs play a fundamental role in the economic development. However, imitations and producers-imitators are essential in diffusing and adapting innovations into the economic exchange processes. In this context the aim of the paper is to model and analyse some properties of imitative mechanisms appearing within the economic evolution. Innovative and imitative mechanisms defined in Hurwicz’s conceptual apparatus are analysed in the economy determined by the use of topological tools usually applied in the general equilibrium theory. As a result it is shown that, in the economy under study, imitative mechanisms are the reasons for and the consequences of innovative mechanisms as well as that the innovative and imitative processes can coexist in the framework of the same innovative mechanism. Moreover it is proven that under some assumptions equilibrium in the economic system analysed can be obtained as a consequence of either of an innovative or an imitative mechanism.
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