Catastrophes minimization on the equilibrium manifold
In a fixed total resources setting, we show that there exists a Riemannian metric g on the equilibrium manifold, which coincides with any (fixed) Riemannian metric with an economic meaning outside an arbitrarily small neighborhood of the set of critical equilibria, such that a minimal geodesic connecting two regular equilibria is arbitrarily close to a smooth path which minimizes catastrophes.
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Volume (Year): 47 (2011)
Issue (Month): 4 ()
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References listed on IDEAS
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- Loi, Andrea & Matta, Stefano, 2008. "Geodesics on the equilibrium manifold," Journal of Mathematical Economics, Elsevier, vol. 44(12), pages 1379-1384, December.
- Loi, Andrea & Matta, Stefano, 2009.
"Evolution paths on the equilibrium manifold,"
Journal of Mathematical Economics,
Elsevier, vol. 45(12), pages 854-859, December.
- Balasko, Yves, 1979. "A geometric approach to equilibrium analysis," Journal of Mathematical Economics, Elsevier, vol. 6(3), pages 217-228, December.
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