The geometry of finite equilibrium datasets
We investigate the geometry of finite datasets defined by equilibrium prices, income distributions, and total resources. We show that the equilibrium condition imposes no restrictions if total resources are collinear, a property that is robust to small perturbations. We also show that the set of equilibrium datasets is pathconnected when the equilibrium condition does impose restrictions on datasets, as for example when total resources are widely noncollinear.
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- Yves Balasko & Mich Tvede, 2009.
"The Geometry of Finite Equilibrium Datasets,"
09-07, University of Copenhagen. Department of Economics.
- Yves Balasko & Mich Tvede, 2010.
"Individual preference rankings compatible with prices, income distributions and total resources,"
Springer, vol. 45(3), pages 497-513, December.
- Yves Balasko & Mich Tvede, 2009. "Individual Preference Rankings Compatible with Prices, Income Distributions and Total Resources," Discussion Papers 09-09, University of Copenhagen. Department of Economics.
- Donald J. Brown & Rosa L. Matzkin, 1995.
"Testable Restrictions on the Equilibrium Manifold,"
Cowles Foundation Discussion Papers
1109, Cowles Foundation for Research in Economics, Yale University.
- Snyder, Susan K., 2004. "Observable implications of equilibrium behavior on finite data," Journal of Mathematical Economics, Elsevier, vol. 40(1-2), pages 165-176, February.
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