Econometrica: Oct 1961, Volume 29, Issue 4

The Stability of Dynamic Processes

https://doi.org/0012-9682(196110)29:4<617:TSODP>2.0.CO;2-X
p. 617-631

Hirofumi Uzawa

In this paper the stability problem of general dynamic processes is investigated by the classical Lyapunov second method. The stability theorem will be applied to handle the price adjustment process in a competitive economy and generalize some of the results recently obtained by K. J. Arrow, H. K. Block, and L. Hurwicz.
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