Equilibrium Data Sets and Compatible Utility Rankings
AbstractSets consisting of finite collections of prices and endowments such that total resources are constant, or collinear, or approximately collinear, can always be viewed as subsets of some equilibrium manifold. The additional requirement that such collections of price-endowment data are compatible with some individual preference rankings is reduced to the existence of solutions to some set of linear inequalities and equalities. This characterization enables us to give simple proofs of the contractibility of the set whose elements are finite equilibrium data collections compatible with given individual preference rankings and the path-connectedness of the set made of finite equilibrium data set.
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Bibliographic InfoPaper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 05-23.
Length: 8 pages
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Date of revision: Nov 2005
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Find related papers by JEL classification:
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-12-09 (All new papers)
- NEP-MIC-2005-12-09 (Microeconomics)
- NEP-UPT-2005-12-09 (Utility Models & Prospect Theory)
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