The geometry of finite equilibrium sets
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The geometry of finite equilibrium sets. / Balasko, Yves; Tvede, Mich.
In: Journal of Mathematical Economics, Vol. 45, No. 5-6, 2009, p. 391-396.Research output: Contribution to journal › Journal article › Research › peer-review
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TY - JOUR
T1 - The geometry of finite equilibrium sets
AU - Balasko, Yves
AU - Tvede, Mich
N1 - JEL classification: D31, D51
PY - 2009
Y1 - 2009
N2 - We investigate the geometry of finite datasets defined by equilibrium prices, income distributions, and total resources. We show that the equilibrium condition imposes no restrictions if total resources are collinear, a property that is robust to small perturbations. We also show that the set of equilibrium datasets is pathconnected when the equilibrium condition does impose restrictions on datasets, as for example when total resources are widely noncollinear.
AB - We investigate the geometry of finite datasets defined by equilibrium prices, income distributions, and total resources. We show that the equilibrium condition imposes no restrictions if total resources are collinear, a property that is robust to small perturbations. We also show that the set of equilibrium datasets is pathconnected when the equilibrium condition does impose restrictions on datasets, as for example when total resources are widely noncollinear.
KW - Faculty of Social Sciences
KW - equilibrium manifold
KW - pathconnectedness
U2 - 10.1016/j.jmateco.2009.03.009
DO - 10.1016/j.jmateco.2009.03.009
M3 - Journal article
VL - 45
SP - 391
EP - 396
JO - Journal of Mathematical Economics
JF - Journal of Mathematical Economics
SN - 0304-4068
IS - 5-6
ER -
ID: 12210926