Nonmonotonic Demand and Supply Curves

  • Matthias Ruth
  • Bruce Hannon
Part of the Modeling Dynamic Systems book series (MDS)


In the previous chapter, we saw chaos emerge in a model of a consumer’s demand for a good. In this chapter, we model chaos as a result of particular interactions between demand and supply of a good. Before we do this, let us briefly review the workings of a market characterized by demand and supply curves. Let us assume that demand and supply are not instantaneously equated with each other. Rather, adjustments in demand and supply take time.


Chaotic Behavior Demand Curve Excess Demand Supply Curve Previous Chapter 
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Copyright information

© Springer-Verlag New York, Inc. 1997

Authors and Affiliations

  • Matthias Ruth
    • 1
  • Bruce Hannon
    • 2
  1. 1.Center for Energy and Environmental Studies and the Department of GeographyBoston UniversityBostonUSA
  2. 2.Department of GeographyUniversity of IllinoisUrbanaUSA

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