The Cobweb Theorem¶
Ezekiel, M. (1938). The Cobweb Theorem. The Quarterly Journal of Economics, 52(2), 255-280.
Cited by¶
2 citations across 2 artifacts.
Each citation links to the sentence it supports in the citing article.
Mechanisms¶
- Response Smoothing Instruction
- Released bare, the forecast defeats itself: everyone who can, shifts to Tuesday, and the crush simply moves a day earlier — an over-correction that oscillates the load rather than easing it.
This sourceShows how delayed corrective responses can overshoot and produce oscillating load rather than convergence.
- Released bare, the forecast defeats itself: everyone who can, shifts to Tuesday, and the crush simply moves a day earlier — an over-correction that oscillates the load rather than easing it.
- Supply-Demand Rebalancing
- And when supply responds to demand on a lag, naive resizing can overshoot into the opposite imbalance and then oscillate, the pattern the cobweb model
This sourceShows how agricultural supply responding with a lag to prior prices can alternately overshoot demand and generate continuing cobweb-like price and output fluctuations.
- And when supply responds to demand on a lag, naive resizing can overshoot into the opposite imbalance and then oscillate, the pattern the cobweb model
Verification¶
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Does it back the claim? Not recorded. Neither this nor any other of the 2 citations of this work carries a recorded support check.
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Registry ID ref:c3a2380e550d · see in the full table