A NOTE ON CONTROLLING A CHAOTIC TATONNEMENT

The paper studies the possibility of 'targeting' or 'controlling' a ch aotic tatonnement by suitable perturbations of the law of motion. The analysis is in the context of a parametric class of exchange economies which are shown to constitute the logistic family of dynamical system s under the tatonnement process. Computer simulations suggest that the control method is effective in attaining neighborhoods of competitive equilibria for many members of this class of economies in a decentral ized manner. (C) 1998 Elsevier Science B.V.