The Cobweb Theorem

By M. Ezekiel. 2010

474 citations recorded by the source corpus.

Subfields: Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/a1a27af37e54c7e3a0c6fa7578b19e5065d059e8

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In Economics and Econometrics

1. J. Duffy

Citations in the corpus

• Long-term global availability of food: continued abundance or new scarcity? (2008, background): “According to the cobweb theorem (Ezekiel, 1938; Nerlove, 1958), myopic expectations can induce cyclic over- and undershooting oflong-term investment levels and thereby price fluctuations around the trend.”
• Macroeconomics: A Survey of Laboratory Research (2016, methodology): “The main treatment variable consists of variation in the supply function parameter λ which affects the stability of the cobweb model under the assumption of naive expectations ( following the classic analysis of Ezekiel ( 1938 ) ) .”