Equilibrium conditions in smooth infinite economies with separable utilities are described by Fredholm maps, which are Frechet differentiable. Therefore, Smale's extension of Sard's theorem can be used to studying infinite economies. We study structural stability and local uniqueness of equilibrium in smooth infinite economies and relate the theory of markets to modern Fredholm theory.
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Paper provided by Columbia University, Department of Economics in its series Discussion Papers with number
1996_14.
Find related papers by JEL classification: C00 - Mathematical and Quantitative Methods - - General - - - General D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General D59 - Microeconomics - - General Equilibrium and Disequilibrium - - - Other
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