Construct · 1 fields · 1 citations

cobweb theorem: a standalone construct

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Agricultural economics

price and output cycles that arise when producers base this season's planting on last season's price and supply responds with a lag.

In agricultural economics, cobweb theorem refers to price and output cycles that arise when producers base this season's planting on last season's price and supply responds with a lag. This meaning comes from Ezekiel (1938) in The Quarterly Journal of Economics.[1]

Unit
Recovery means
Measured by

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Nearby constructs

base3 fields · 4 citationsjingle · one word, three constructs supply3 fields · 3 citationsjingle · one word, three constructs

References

Ezekiel, M. (1938). The Cobweb Theorem. The Quarterly Journal of Economics, 52(2), 255. https://doi.org/10.2307/1881734

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