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Capitalistic Firm Adjustement Dynamics

Author

Listed:
  • Eleutério Fernando da Silva Prado

    (Universidade de São Paulo)

Abstract

The paper presents a model of a capitalistic firm that operates in a complex environment and keeps itself in motion always in non-equilibrium trajectories.It produces onlyoneproductandcompetes in a marketwith manyothersc o n c u rrent firms. The economic system iscomposedby heterogeneous firm sand consumers thatare engaged in heterogeneous economic relations between themselves. The necessary information for decision-making is diffuse and is spread all around society. The firm has inductive and bounded rationality. Its microeconomic behavior is guided by rules of thumb. It chooses in a blindway the price andthe supplied quantity trying toadjust the production capacity, the level of inventories and the mark up in order to improve its profits .

Suggested Citation

  • Eleutério Fernando da Silva Prado, 2004. "Capitalistic Firm Adjustement Dynamics," Revista de Economia Mackenzie (REM), Mackenzie Presbyterian University, Social and Applied Sciences Center, vol. 2(2), pages 125-142, january-d.
    • Handle: RePEc:aft:journl:v:2:2:2004:jan:dec:p:125-142
    DOI: -
    as

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