I seems to me that what those economist meant with the metaphor of 'center of gravity' is the notion of attractor (as Kurz & Salvador say int he quote) in chaos theory rather than the equilibrium price acts like the physical gravity.
Then again, a 'chaos theory' approach would require to drop any 'simultaneism'. that's because i think that, being that the case, it is unfair to equate it with the others interpretations of the 'equilibrium price' because attractors are not stationary equilibriums
I seems to me that what those economist meant with the metaphor of 'center of gravity' is the notion of attractor (as Kurz & Salvador say int he quote) in chaos theory rather than the equilibrium price acts like the physical gravity.
Then again, a 'chaos theory' approach would require to drop any 'simultaneism'. that's because i think that, being that the case, it is unfair to equate it with the others interpretations of the 'equilibrium price' because attractors are not stationary equilibriums
thesmokingfrog 1 year ago
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thesmokingfrog 1 year ago