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Properties of critical points and operators in economics

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Author Info
Chichilnisky, Graciela
Kalman, P.J.

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Abstract

The study of the local characteristics of equilibrium positions generated by the constrained maximization of some criterion functions (such as utility, profit, cost, etc.) goes back to Antonelli's paper [2] of 1886. Certain local properties have been proved to be particularly fruitful for economic theory since the early works of Slutsky, Hicks, and Samuelson [9]; they have been formulated in terms of a matrix of "compensated" terms and they concern the properties of partial derivatives of the demand function in some neighborhood of the equilibrium. We now discuss this matrix and its applications.

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File URL: http://mpra.ub.uni-muenchen.de/7976/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 7976.

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Date of creation: 1977
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Publication status: Published in Journal of Mathematical Analysis and Applications no. 2.57(1977): pp. 340-349
Handle: RePEc:pra:mprapa:7976

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Related research
Keywords: Antononelli Slutsky Hicks Samuelson equilibrium contstrained maximization maximization matrix compensated economic theory Slutsky-Hicks-Samuelson equation utility analysis demand optimization topological topology

Find related papers by JEL classification:
C68 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Computable General Equilibrium Models
B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
C61 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Optimization Techniques; Programming Models; Dynamic Analysis

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  1. Kalman, Peter J & Dusansky, Richard & Wickstrom, Bengt-Arne, 1974. "On the Major Slutsky Properties When Money Is the Sole Medium of Exchange," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 15(3), pages 718-28, October. [Downloadable!] (restricted)
  2. Kalman, Peter J & Intriligator, Michael D, 1973. "Generalized Comparative Statics with Applications to Consumer Theory and Producer Theory," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 14(2), pages 473-86, June. [Downloadable!] (restricted)
  3. Chichilnisky, Graciela & Kalman, Peter J, 1978. "Comparative Statics of Less Neoclassical Agents," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 19(1), pages 141-48, February. [Downloadable!] (restricted)
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