Existence and uniqueness of the producers’ optimal adjustment trajectory in a Debreu-type economy

Abstract

The aim of this paper is the analysis of adjustment processes in a Debreu-type economy. The reasons taken into account, e.g. incentives, cooperation of economic agents under full access to information, the way of sending messages described formally, are the basis for defining adjustment trajectories.Some reasons, such as introducing new legal requirements or implementing new profitable technologies formulated in mathematical language, can contribute to the transformation of the production sector and induce an appropriate way of adjusting the producers' plans of action.This survey relies on an examination of the relationships between quantities of goods and quantities of the productive factors used to produce them. As a result, the optimal producers' trajectories, due to the criterion of cost minimization, are defined. The paper also contains some remarks on the uniqueness of the trajectories under study.