Properties of critical points and operators in economics
The study of the local characteristics of equilibrium positions generated by the constrained maximization of some criterion functions (such as utility, profit, cost, etc.) goes back to Antonelli's paper  of 1886. Certain local properties have been proved to be particularly fruitful for economic theory since the early works of Slutsky, Hicks, and Samuelson ; they have been formulated in terms of a matrix of "compensated" terms and they concern the properties of partial derivatives of the demand function in some neighborhood of the equilibrium. We now discuss this matrix and its applications.
|Date of creation:||1977|
|Date of revision:|
|Publication status:||Published in Journal of Mathematical Analysis and Applications no. 2.57(1977): pp. 340-349|
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"Economies with a finite set of equilibria,"
CORE Discussion Papers RP
67, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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