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Limited Arbitrage and Uniqueness of Equilibrium in Stricly Regular Economies

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Author Info
Chichilnisky, G

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Abstract

In strickly regular economies limited arbitrage is sufficient for the global invertibility of demand, and necessary and sufficient for the uniqueness of equilibrium. This result is established using algevraic topology and holds in economies with short sales, and with finitely or infinitely many markets.

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Publisher Info
Paper provided by Columbia - Graduate School of Business in its series Papers with number 96-17.

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Length: 8 pages
Date of creation: 1996
Date of revision:
Handle: RePEc:fth:colubu:96-17

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Postal: U.S.A.; COLUMBIA UNIVERSITY, GRADUATE SCHOOL OF BUSINESS, PAINE WEBBER , New York, NY 10027 U.S.A
Phone: (212) 854-5553
Web page: http://www.columbia.edu/cu/business/
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Related research
Keywords: ECONOMIC EQUILIBRIUM ARBITRATION

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Find related papers by JEL classification:
J52 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Dispute Resolution: Strikes, Arbitration, and Mediation

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