The Economy with Production and Consumption Systems Changing in Time
The Economy with Production and Consumption Systems Changing in Time

Summary/Abstract: Assume that, in a private ownership Debreu economy Ep, among all the commodities there are at least two whose quantities, employed by consumers in all their plans of action, are proportional. This property leads producers change their production plans to satisfy the consumers’ requirements. The producers’ adjustment process, caused by the special form of consumers’ plans, is modeled. As the result, the economy ˇEp with dynamical production and consumption systems is defined. The commodity – price space of economy ˇEp is the space of continuous functions defined on time interval [0; 1] with values in the commodity – price space of economy Ep.

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