Catastrophes minimization on the equilibrium manifold
AbstractIn a fixed total resources setting, we show that there exists a Riemannian metric g on the equilibrium manifold, which coincides with any (fixed) Riemannian metric with an economic meaning outside an arbitrarily small neighborhood of the set of critical equilibria, such that a minimal geodesic connecting two regular equilibria is arbitrarily close to a smooth path which minimizes catastrophes.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Mathematical Economics.
Volume (Year): 47 (2011)
Issue (Month): 4 ()
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Web page: http://www.elsevier.com/locate/jmateco
Equilibrium manifold; Regular economies; Catastrophes; Riemannian metric;
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.:
- Andrea, Loi & Stefano, Matta, 2006.
"Evolution paths on the equilibrium manifold,"
4694, University Library of Munich, Germany.
- Loi, Andrea & Matta, Stefano, 2008. "Geodesics on the equilibrium manifold," Journal of Mathematical Economics, Elsevier, vol. 44(12), pages 1379-1384, December.
- Balasko, Yves, 1979. "A geometric approach to equilibrium analysis," Journal of Mathematical Economics, Elsevier, vol. 6(3), pages 217-228, December.
- Andrea Loi & Stefano Matta, 2012. "Structural stability and catastrophes," Economics Bulletin, AccessEcon, vol. 32(4), pages 3378-3385.
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