Introduction

Abstract

A dynamical system (DS) describes the evolution over time of all points in a given subspace of an n-Euclidean space. For example consumption c = (c ₁,..., c _n) is a point in the commodity space. Similarly, price $\dot p = \hat kE\left( p \right)$ is a point in the price space and Walras’ law p = k̂E(p) describes the evolution over time of prices in response to excess demand E(p), with speed k̂ where k̂ = diag(k ₁, k ₂,..., k _n).