Abstract
It is well known that there is no direct relation between stability of the Walrasian tâtonnement process and stability of the Marshallian quantity adjustment process. It is shown that, if short run Walrasian tâtonnement with a given number of firms is distinguished, there is, under the assumption of no joint production, local stability of the short run Walrasian adjustment process if and only if there is local stability of the long run Marshallian adjustment process with exit and entry of firms according to profit levels.
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