Competitive equilibria with consumption possibility depending on endowments : a global analysis
AbstractIn the spirit of Smale's work, we consider a pure exchange economy with general consumption sets. We consider the case in which the consumption set of each household is described in terms of an inequality on a function called possibility function. The possibility function represents the restricted consumption possibility on commodity markets. The main innovation comes from the dependency of the possibility function with respect to the individual initial endowment. We prove that, generically, equilibria are finite and they locally depend on the initial endowments in a smooth manner.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Université Panthéon-Sorbonne (Paris 1) in its series Cahiers de la Maison des Sciences Economiques with number b05085.
Length: 33 pages
Date of creation: Dec 2005
Date of revision:
Contact details of provider:
Postal: 106 - 112 boulevard de l'Hôpital, 75647 Paris cedex 13
Phone: 01 44 07 81 00
Fax: 01 44 07 81 09
Web page: http://mse.univ-paris1.fr/
More information through EDIRC
General economic equilibrium; consumption sets; regular economies.;
Other versions of this item:
Find related papers by JEL classification:
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
This paper has been announced in the following NEP Reports:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- DEBREU, Gérard, .
"Economies with a finite set of equilibria,"
CORE Discussion Papers RP
-67, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Jean-Marc Bonnisseau & Jorge Rivera Cayupi, 2003.
"The equilibrium manifold with boundary constraints on the consumption sets,"
Estudios de Economia,
University of Chile, Department of Economics, vol. 30(2 Year 20), pages 225-240, December.
- Jean-Marc Bonnisseau & Jorge Rivera Cayupi, 2002. "The equilibrium manifold with Boundary constraints on the Consumption sets," Working Papers wp196, University of Chile, Department of Economics.
- Smale, S., 1974. "Global analysis and economics IIA : Extension of a theorem of Debreu," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 1-14, March.
- Smale, S., 1974. "Global analysis and economics IV : Finiteness and stability of equilibria with general consumption sets and production," Journal of Mathematical Economics, Elsevier, vol. 1(2), pages 119-127, August.
- Cass, David & Siconolfi, Paolo & Villanacci, Antonio, 2001. "Generic regularity of competitive equilibria with restricted participation," Journal of Mathematical Economics, Elsevier, vol. 36(1), pages 61-76, September.
- Polemarchakis, H. M. & Siconolfi, P., 1997. "Generic existence of competitive equilibria with restricted participation," Journal of Mathematical Economics, Elsevier, vol. 28(3), pages 289-311, October.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lucie Label).
If references are entirely missing, you can add them using this form.