caa a22 4500 463168860 CHVBK 20180406164807.0 cr unu---uuuuu 170326e20070601xx s 000 0 eng 10.1007/s10957-007-9207-z doi (NATIONALLICENCE)springer-10.1007/s10957-007-9207-z Wirl F. Faculty of Business, Economics and Statistics, University of Vienna, Vienna, Austria aut Social Interactions within a Dynamic Competitive Economy [Elektronische Daten] [F. Wirl] This paper considers social interactions and investigates how far the properties of moderate social influence and of diminishing returns foster the uniqueness and stability of a dynamic competitive economy. In particular, in contrast to the static framework, it is shown that moderate social influence can neither ensure unique long run outcomes nor rule out other kinds of complexities such as indeterminacy; also, the assumption of diminishing returns for the aggregate economy does not eliminate any of these complexities. Instead, the (derived) property of moderate dynamic social influence, which accounts explicitly for intertemporal spillovers, provides the proper criterion for the (saddlepoint) stable evolution of a competitive economy. Springer Science+Business Media, LLC, 2007 Moderate social influence nationallicence Nonincreasing returns nationallicence Uniqueness versus history dependence and indeterminacy nationallicence Journal of Optimization Theory and Applications Kluwer Academic Publishers-Plenum Publishers; http://www.springer-ny.com 133/3(2007-06-01), 385-400 0022-3239 133:3<385 2007 133 10957 https://doi.org/10.1007/s10957-007-9207-z text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10957-007-9207-z text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Wirl F. Faculty of Business, Economics and Statistics, University of Vienna, Vienna, Austria aut NATIONALLICENCE 773 0- Journal of Optimization Theory and Applications Kluwer Academic Publishers-Plenum Publishers; http://www.springer-ny.com 133/3(2007-06-01), 385-400 0022-3239 133:3<385 2007 133 10957 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer