Definitions
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- noun economics An
iterative auction process by which an exchange equilibrium is imagined to be achieved.
Etymologies
from Wiktionary, Creative Commons Attribution/Share-Alike License
From French tâtonnement ("groping")
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Examples
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There exist counterexamples to tatonnement, trading at non-clearing prices change the equilibrium, etc.
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The tatonnement system was an auction in which participants were together bidding and selling assets at many different price intervals.
Stuff.co.nz - Stuff 2009
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2. Tatonnement will actual trading (at non-clearing prices) rather than pledges, if it works at all (e.g. counterexamples to tatonnement), will still get you an efficient allocation, although not the one that would prevail with pledges.
whichbe commented on the word tatonnement
Experimentation; trial and error.
July 31, 2008