Insurance Crisis, Legal Environment, and the Sustainability of Professional Liability Insurance Market in the Construction Industry: Based on the US Market
Table 4
Determinant Det(J) and trace Tr(J) of the equilibrium point under various state conditions.
Balance
Determinant Det(J)
State 1
State 2
State 3
State 4
Trace Tr(J)
E1 (0, 0)
(C−D) (F − H)
+
ESS
+
Unstable
+
Unstable
+
ESS
C − D + F − H
−
+
+
−
E2 (0, 1)
(A − B) (H − F)
−
Unstable
−
Unstable
+
ESS
+
Unstable
A − B + H − F
−
+
E3 (1, 1)
(B − A) (G − E)
+
Unstable
+
ESS
+
Unstable
+
ESS
B − A + G − E
+
−
+
−
E4 (1, 0)
(D − C) (E − G)
−
Unstable
−
Unstable
+
ESS
+
Unstable
D − C + E − G
−
−
+
E5 (X, Y)
Unstable
Unstable
+
Saddle point
+
Saddle point
0
0
0
0
0
Uncertainty; when Det(J)> and Tr(J) < 0, this point is ESS; (3) when Det(J)> and Tr(J) = 0, this point is the saddle point.