IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/8833.html
   My bibliography  Save this paper

Necessary and sufficient conditions for global uniqueness of equilibria

Author

Listed:
  • Covarrubias, Enrique

Abstract

We study the problem of finding necessary and sufficient conditions that guarantee global uniqueness of equilibria in a pure exchange economy. We show that for every economy to have a unique equilibrium it is necessary and sufficient that (i) there are no critical economies and (ii) a compact set of economies has a compact set of equilibria.

Suggested Citation

  • Covarrubias, Enrique, 2008. "Necessary and sufficient conditions for global uniqueness of equilibria," MPRA Paper 8833, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:8833
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/8833/1/MPRA_paper_8833.pdf
    File Function: original version
    Download Restriction: no

    References listed on IDEAS

    as
    1. Debreu, Gerard, 1970. "Economies with a Finite Set of Equilibria," Econometrica, Econometric Society, vol. 38(3), pages 387-392, May.
    2. Debreu, Gerard, 1984. "Economic Theory in the Mathematical Mode," American Economic Review, American Economic Association, vol. 74(3), pages 267-278, June.
    3. Varian, Hal R, 1975. "A Third Remark on the Number of Equilibria of an Economy," Econometrica, Econometric Society, vol. 43(5-6), pages 985-986, Sept.-Nov.
    4. Chichilnisky, Graciela, 1997. "Topology and invertible maps," MPRA Paper 8811, University Library of Munich, Germany.
    5. Dierker, Egbert, 1993. "Regular economies," Handbook of Mathematical Economics, in: K. J. Arrow & M.D. Intriligator (ed.),Handbook of Mathematical Economics, edition 4, volume 2, chapter 17, pages 795-830, Elsevier.
    6. Dierker, Egbert, 1972. "Two Remarks on the Number of Equilibria of an Economy," Econometrica, Econometric Society, vol. 40(5), pages 951-953, September.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    general equilibrium; invertibility; global uniqueness; critical economy; regular economy; equilibrium manifold; natural projection; diffeomorphism; Jacobian;

    JEL classification:

    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:8833. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter). General contact details of provider: http://edirc.repec.org/data/vfmunde.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.