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Some consequences of the unknottedness of the Walras correspondence

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  • DEMICHELIS, Stefano

    (Dipartimento di Matematica, Universita degli Studi di Pavia, 27100 Pavia, Italy)

  • GERMANO, Fabrizio

    (Center for Operations Research and Econometrics (CORE), Université catholique de Louvain (UCL), Louvain la Neuve, Belgium)

Abstract

Two basic properties concerning the dynamic behavior of competitive equilibria of exchange economies with complete markets are derived essentially from the fact that the Walras correspondence has no knots.

Suggested Citation

  • DEMICHELIS, Stefano & GERMANO, Fabrizio, 1999. "Some consequences of the unknottedness of the Walras correspondence," LIDAM Discussion Papers CORE 1999045, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:1999045
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    File URL: https://sites.uclouvain.be/core/publications/coredp/coredp1999.html
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    References listed on IDEAS

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    1. Mas-Colell,Andreu, 1990. "The Theory of General Economic Equilibrium," Cambridge Books, Cambridge University Press, number 9780521388702, January.
    2. Balasko, Yves, 1975. "Some results on uniqueness and on stability of equilibrium in general equilibrium theory," Journal of Mathematical Economics, Elsevier, vol. 2(2), pages 95-118.
    3. Schecter, Stephen, 1979. "On the structure of the equilibrium manifold," Journal of Mathematical Economics, Elsevier, vol. 6(1), pages 1-5, March.
    4. Dierker, Egbert, 1972. "Two Remarks on the Number of Equilibria of an Economy," Econometrica, Econometric Society, vol. 40(5), pages 951-953, September.
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    Cited by:

    1. Bich, Philippe & Fixary, Julien, 2022. "Network formation and pairwise stability: A new oddness theorem," Journal of Mathematical Economics, Elsevier, vol. 103(C).
    2. Loi, Andrea & Matta, Stefano & Uccheddu, Daria, 2023. "Equilibrium selection under changes in endowments: A geometric approach," Journal of Mathematical Economics, Elsevier, vol. 108(C).
    3. Loi, Andrea & Matta, Stefano, 2021. "Minimal entropy and uniqueness of price equilibria in a pure exchange economy," Journal of Mathematical Economics, Elsevier, vol. 97(C).
    4. Predtetchinski, Arkadi, 2009. "A general structure theorem for the Nash equilibrium correspondence," Games and Economic Behavior, Elsevier, vol. 66(2), pages 950-958, July.
    5. Andrea Loi & Stefano Matta, 2021. "Minimal entropy and uniqueness of price equilibria in a pure exchange economy," Papers 2102.09827, arXiv.org.
    6. Andrea Loi & Stefano Matta & Daria Uccheddu, 2022. "Equilibrium selection: a geometric approach," Papers 2208.10860, arXiv.org.
    7. Demichelis, Stefano & Germano, Fabrizio, 2002. "On (un)knots and dynamics in games," Games and Economic Behavior, Elsevier, vol. 41(1), pages 46-60, October.

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