An Algebraic Inde Theorem for Non-Smooth Economies.

In this paper, we prove an existence theorem for equilibria in production economies with increasing returns, which generalizes the classis results on this topic. In partular, 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 of non-convex-valued correspondences defined on non-smooth topological manifolds.

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Year of publication:	2000
Authors:	Giraud, G.
Institutions:	Center for Operations Research and Econometrics (CORE), École des Sciences Économiques de Louvain
Subject:	MATHEMATICAL ANALYSIS \| GENERAL EQUILIBRIUM

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Series:	Papers.
Type of publication:	Book / Working Paper
Notes:	15 pages
Classification:	C62 - Existence and Stability Conditions of Equilibrium ; D51 - Exchange and Production Economies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005669274