Fixed Points in Grassmannians with Applications to Economic Equilibrium
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In some applications of equilibrium theory, the fixed point involves not only a state and a value of a parameter in the dual of the state space, but also a particular subspace of the state space. Since the set of all subspaces of a finite-dimensional Euclidean space has a structure which does not allow immediate application of fixed point theorems, the problem must be reformulated using a suitable parametrization of subspaces. One such parametrization, the Plücker coordinates, is used here to prove a general equilibrium existence theorem. Applications to economic problems involving hierarchies of consumers or incomplete markets with real assets are outlined.
Originalsprog | Engelsk |
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Tidsskrift | Journal of Advances in Economics and Finance |
Vol/bind | 2 |
Udgave nummer | 1 |
Sider (fra-til) | 29-39 |
ISSN | 2519-5980 |
DOI | |
Status | Udgivet - 2017 |
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