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.




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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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