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Una aplicación del análisis no diferenciable a la economía matemática: caracterización de la hipótesis de libre eliminación por medio del cono normal a la frontera del conjunto

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  • Jorge Rivera

    () (Universidad de Chile)

Abstract

This paper is devoted to study some analytical properties of sets that satisfy the free disposal hypothesis. This hypothesis plays a relevant role in general equilibrium theory, because it is widely used to ensure both the positiveness of equilibrium prices and the efficiency of equilibrium allocation. The main result of this paper is a characterization of this hypothesis in terms of the normal cone to the set at its boundary points.

Suggested Citation

  • Jorge Rivera, 2004. "Una aplicación del análisis no diferenciable a la economía matemática: caracterización de la hipótesis de libre eliminación por medio del cono normal a la frontera del conjunto," Revista de Analisis Economico – Economic Analysis Review, Ilades-Georgetown University, Universidad Alberto Hurtado/School of Economics and Bussines, vol. 19(2), pages 147-156, December.
  • Handle: RePEc:ila:anaeco:v:19:y:2004:i:2:p:147-156
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    References listed on IDEAS

    as
    1. Bonnisseau, Jean-Marc & Cornet, Bernard, 1988. "Existence of equilibria when firms follow bounded losses pricing rules," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 119-147, April.
    2. Bonnisseau, Jean-Marc, 1988. "On two existence results of equilibria in economies with increasing returns," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 193-207, April.
    3. M. Ali Khan & Rajiv Vohra, 1987. "An Extension of the Second Welfare Theorem to Economies with Nonconvexities and Public Goods," The Quarterly Journal of Economics, Oxford University Press, vol. 102(2), pages 223-241.
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    More about this item

    Keywords

    Free Disposal Hypothesis; Normal Cone; Equilibrium.;

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium

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