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The number of equilibria of smooth infinite economies

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  • Covarrubias, Enrique

Abstract

We construct an index theorem for smooth infinite economies that shows that generically the number of equilibria is odd. As a corollary, this gives a new proof of existence and gives conditions that guarantee global uniqueness of equilibria.

Suggested Citation

  • Covarrubias, Enrique, 2013. "The number of equilibria of smooth infinite economies," Journal of Mathematical Economics, Elsevier, vol. 49(4), pages 263-265.
    • Handle: RePEc:eee:mateco:v:49:y:2013:i:4:p:263-265
    DOI: 10.1016/j.jmateco.2013.03.003
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    Cited by:

    1. Covarrubias, Enrique, 2011. "The equilibrium set of economies with a continuous consumption space," Journal of Mathematical Economics, Elsevier, vol. 47(2), pages 137-142, March.
    2. Covarrubias, Enrique, 2013. "Global invertibility of excess demand functions," MPRA Paper 47300, University Library of Munich, Germany.

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    More about this item

    Keywords

    Uniqueness; Infinite economy; Index theorem; Z-Rothe vector field;
    All these keywords.

    JEL classification:

    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

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