The Cobweb Theorem (1938)

The Cobweb Theorem is a mathematical economics book written by Mordecai Ezekiel and published in 1938. The book explores the relationship between supply and demand in a market economy, and how this relationship can lead to fluctuations in prices over time. The theorem is based on the idea that if producers base their output decisions on current prices, and consumers base their consumption decisions on current prices, then prices will continue to fluctuate in a cyclical pattern. The book provides a detailed explanation of the theorem, as well as its implications for economic theory and policy. It also includes a number of examples and case studies to illustrate the practical applications of the theorem. Overall, The Cobweb Theorem is an important work in the field of mathematical economics, and remains widely studied and cited to this day.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.