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Necessary and sufficient conditions for global uniqueness of equilibria

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Author Info
Covarrubias, Enrique

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Abstract

We study the problem of finding necessary and sufficient conditions that guarantee global uniqueness of equilibria in a pure exchange economy. We show that for every economy to have a unique equilibrium it is necessary and sufficient that (i) there are no critical economies and (ii) a compact set of economies has a compact set of equilibria.

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File URL: http://mpra.ub.uni-muenchen.de/8833/
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 8833.

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Date of creation: 05 May 2008
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Handle: RePEc:pra:mprapa:8833

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Related research
Keywords: general equilibrium; invertibility; global uniqueness; critical economy; regular economy; equilibrium manifold; natural projection; diffeomorphism; Jacobian;

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Find related papers by JEL classification:
D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

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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.:
  1. Chichilnisky, Graciela, 1997. "Topology and invertible maps," MPRA Paper 8811, University Library of Munich, Germany. [Downloadable!]
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  2. Debreu, Gerard, 1970. "Economies with a Finite Set of Equilibria," Econometrica, Econometric Society, vol. 38(3), pages 387-92, May. [Downloadable!] (restricted)
  3. Debreu, Gerard, 1984. "Economic Theory in the Mathematical Mode," American Economic Review, American Economic Association, vol. 74(3), pages 267-78, June. [Downloadable!] (restricted)
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  4. Varian, Hal R, 1975. "A Third Remark on the Number of Equilibria of an Economy," Econometrica, Econometric Society, vol. 43(5-6), pages 985-86, Sept.-Nov. [Downloadable!] (restricted)
  5. Dierker, Egbert, 1972. "Two Remarks on the Number of Equilibria of an Economy," Econometrica, Econometric Society, vol. 40(5), pages 951-53, September. [Downloadable!] (restricted)
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This page was last updated on 2009-11-30.

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