Finiteness of the Number of Equilibria in a Production Economy with Uncertainty
AbstractThis paper shows that the inverse image of the natural projection defines a ramified covering with finite layers. Finiteness of equilibria for regular two period production economies with uncertainty follows from this property.
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Bibliographic InfoPaper provided by Department of Economics, University of York in its series Discussion Papers with number 11/08.
Date of creation: May 2011
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General Equilibrium; Uncertainty; Production.;
Find related papers by JEL classification:
- D20 - Microeconomics - - Production and Organizations - - - General
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
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- Balasko, Yves, 1975. "The Graph of the Walras Correspondence," Econometrica, Econometric Society, vol. 43(5-6), pages 907-12, Sept.-Nov.
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