The geometry of finite equilibrium datasets
AbstractWe investigate the geometry of finite datasets defined by equilibrium prices, income distributions, and total resources. We show that the equilibrium condition imposes no restrictions if total resources are collinear, a property that is robust to small perturbations. We also show that the set of equilibrium datasets is pathconnected when the equilibrium condition does impose restrictions on datasets, as for example when total resources are widely noncollinear.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Mathematical Economics.
Volume (Year): 45 (2009)
Issue (Month): 5-6 (May)
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Web page: http://www.elsevier.com/locate/jmateco
Equilibrium manifold Rationalizability Pathconnectedness;
Other versions of this item:
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
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- Yves Balasko & Mich Tvede, 2010.
"Individual preference rankings compatible with prices, income distributions and total resources,"
Springer, vol. 45(3), pages 497-513, December.
- Yves Balasko & Mich Tvede, 2009. "Individual Preference Rankings Compatible with Prices, Income Distributions and Total Resources," Discussion Papers 09-09, University of Copenhagen. Department of Economics.
- Felix Kubler & Karl Schmedders, 2010.
"Non-parametric counterfactual analysis in dynamic general equilibrium,"
Springer, vol. 45(1), pages 181-200, October.
- Felix Kubler & Karl Schmedders, 2007. "Non-parametric counterfactual analysis in dynamic general equilibrium," PIER Working Paper Archive 07-027, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
- Felix KUBLER & Karl SCHMEDDERS, . "Non-parametric counterfactual analysis in dynamic general equilibrium," Swiss Finance Institute Research Paper Series 09-05, Swiss Finance Institute.
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