THE LOCAL UNIQUENESS OF EQUILIBRIA.
We shall present an alternative proof of C. Debreu's theorem on the finiteness of the set of equilibria [1], and some related new results. The set of economies with finitely many equilibria is dense with respect to a very weak topology on the set of exchange economies. The equilibrium correspondence...
| Publicado en: | Econometrica Vol. 40; no. 5; pp. 867 - 882 |
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| Autores principales: | , |
| Formato: | Artículo |
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Wiley-Blackwell
Sep72
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=6857394&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 6857394 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00129682 ECN jtl: Econometrica issn: 00129682 maglogo: Y pubinfo: dt: Sep72 vid: 40 iid: 5 pid: 480 pub: Wiley-Blackwell artinfo: ui: 6857394 10.2307/1912074 ppf: 867 ppct: 15 formats: tig: atl: THE LOCAL UNIQUENESS OF EQUILIBRIA. aug: au: Dierker, Egbert Dierker, Hildegard affil: University of California su: Economic equilibrium Economies of scale Demand function Economic demand Mathematical models of economics Mathematical economics Topology Econometrics sug: subj: Economic equilibrium Economies of scale Demand function Economic demand Mathematical models of economics Mathematical economics Topology Econometrics ab: We shall present an alternative proof of C. Debreu's theorem on the finiteness of the set of equilibria [1], and some related new results. The set of economies with finitely many equilibria is dense with respect to a very weak topology on the set of exchange economies. The equilibrium correspondence and the number of equilibria are continuous with respect to a strong topology on the set of regular economies where ‘regular’ is defined as in [1]. Perhaps the methods used in this paper are more interesting than the results. The key concept we use is that of transversality. The essential regularity property of regular economies is that their excess demand functions are transversal to zero. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1972 holdings: @attributes: islocal: N |
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