Giuseppe Palomba and the Lotka-Volterra Equations
Accademia dei Lincei; CESifo (Center for Economic Studies and Ifo Institute for Economic Research)
December 1, 2007
Rendiconti Lincei – Scienze Fisiche e Naturali, Vol. 19, No. 4, pp. 347-357, 2008
The introduction into economics of the Lotka-Volterra prey-predator equations to model cyclical phenomena is commonly attributed to Richard Goodwin (1965). In this paper we show that the Italian economist Giuseppe Palomba had used these equations much earlier (1939), and describe Palomba's model in detail, pointing out his surprisingly modern conclusions and suggestions for future work.
Keywords: Lotka-Volterra equations, growth cycle
JEL Classification: E32, C69Accepted Paper Series
Date posted: April 30, 2011
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