Walras Equilibria : Finiteness and Local Stability
AbstractWe study a class of exchange economies where the characteristics of the agent are fixed but the initial endowments. We define a notion of regular economies which encompasses the different approach of the literature. We then prove that a regular exchange economy has a finite odd number of normalized equilibrium price if the excess demand function satisfies a boundary condition. Then we study the set of regular economies and we prove that it is generic and open under usual assumptions.
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Bibliographic InfoPaper provided by UniversitÃ© PanthÃ©on-Sorbonne (Paris 1) in its series Papiers d'Economie MathÃ©matique et Applications with number 2000.118.
Length: 12 pages
Date of creation: 2000
Date of revision:
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PRICES ; DEMAND ; WALRAS EQUILIBRIUM;
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