On the uniqueness of local equilibria
AbstractThe purpose of this paper is to define a new notion of local equilibrium in an exchange economy, where the consumers face lower bounds on net trades. Then, we show that the local equilibrium is unique if the lower bounds are closed enough to 0. By the way, we also provide a convergence result of local equilibrium price toward Walras equilibrium price of a suitable tangent linear economy.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Mathematical Economics.
Volume (Year): 46 (2010)
Issue (Month): 5 (September)
Contact details of provider:
Web page: http://www.elsevier.com/locate/jmateco
General economic equilibrium Local equilibria Uniqueness;
Other versions of this item:
- Jean-Marc Bonnisseau & Orntangar Nguenamadji, 2008. "On the uniqueness of local equilibria," Documents de travail du Centre d'Economie de la Sorbonne b08102, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne, revised Dec 2009.
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
- D62 - Microeconomics - - Welfare Economics - - - Externalities
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Jean-Marc Bonnisseau & Orntangar Nguenamadji, 2009.
"Discrete Walrasian exchange process,"
Documents de travail du Centre d'Economie de la Sorbonne
09085, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
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- repec:hal:journl:halshs-00609824 is not listed on IDEAS
- Jean-Marc Bonnisseau & Orntangar Nguenamadji, 2013.
"Discrete Walrasian exchange process,"
Springer, vol. 52(3), pages 1091-1100, April.
- Jean-Marc Bonnisseau & Orntangar Nguenamadji, 2009. "Discrete Walrasian exchange process," Documents de travail du Centre d'Economie de la Sorbonne 09085, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- repec:hal:cesptp:halshs-00609824 is not listed on IDEAS
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