Abstract
Set-valued mappings (correspondences) arise in economic theory in quite different fields. They were used for instance by John v. Neumann in order to investigate the equilibria in input-output models and they are a main instrument of production theory since the early fifties. More recently correspondences are used to describe the dynamic behaviour of an economy [see e.g. Champsaur/Drèze/Henry; Cherene], In these cases a set-valued process is considered, which determines (in the discrete case) the set of all possible states at time t + 1 given the state at time t; in the continuous case the set valued process is given by a set-valued differential equation (Set-valued differential equations or generalized dynamical systems are described in Roxin.
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References
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© 1983 Springer-Verlag Berlin Heidelberg
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Kischka, P. (1983). On Invariance and Periodicity Properties in Set-Valued Processes. In: Eichhorn, W., Henn, R., Neumann, K., Shephard, R.W. (eds) Quantitative Studies on Production and Prices. Physica, Heidelberg. https://doi.org/10.1007/978-3-662-41526-9_8
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DOI: https://doi.org/10.1007/978-3-662-41526-9_8
Publisher Name: Physica, Heidelberg
Print ISBN: 978-3-7908-0275-7
Online ISBN: 978-3-662-41526-9
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