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An Algebraic Index Theorem for Non-smooth Economies

  • Gaël Giraud

    ()

    (BETA - Bureau d'économie théorique et appliquée - CNRS : UMR7522 - Université Louis Pasteur - Strasbourg I)

In this paper, we prove an existence theorem for equilibria in production economies with increasing returns, which generalizes the classic results on this topic. In particular, we eliminate both the free-disposal assumptions and any smoothness requirements on the boundary of the production sets. For this purpose, we propose a new definition of the topological degree for non-convex-valued correspondences defined on non-smooth topological manifolds.

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Paper provided by HAL in its series Post-Print with number hal-00460314.

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Date of creation: Dec 2001
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Publication status: Published, Journal of Mathematical Economics, 2001, 36, 4, 255-269
Handle: RePEc:hal:journl:hal-00460314
Note: View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00460314/en/
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  1. Jouini, Elyes, 1992. "Existence of equilibria in nonconvex economies without free disposal," Economics Letters, Elsevier, vol. 38(1), pages 37-42, January.
  2. Mclennan, A., 1989. "Approximation Of Contractible Valued Correspondences By Functions," Papers 252, Minnesota - Center for Economic Research.
  3. 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.
  4. DEBREU, Gérard, . "Economies with a finite set of equilibria," CORE Discussion Papers RP -67, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. Kamiya, Kazuya, 1988. "Existence and uniqueness of equilibria with increasing returns," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 149-178, April.
  6. Hamano, Tadashi, 1994. "On the existence of equilibria without convexity or free disposal on production technologies," Journal of Mathematical Economics, Elsevier, vol. 23(6), pages 565-583, November.
  7. Cornet, Bernard, 1988. "General equilibrium theory and increasing returns : Presentation," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 103-118, April.
  8. Jouini, Elyès, 1992. "An index theorem for nonconvex production economies," Economics Papers from University Paris Dauphine 123456789/5638, Paris Dauphine University.
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