Evolution paths on the equilibrium manifold

In a pure exchange smooth economy with fixed total resources, we de- fine the length between two regular equilibria belonging to the equilibrium manifold as the number of intersection points of the evolution path connecting them with the set of critical equilibria. We show that there exists a minimal path according to this definition of length.

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Year of publication:	2006-11
Authors:	Andrea, Loi ; Stefano, Matta
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	Equilibrium manifold \| regular economies \| critical equilibria \| catastrophes \| Jordan-Brouwer separation theorem

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	D51 - Exchange and Production Economies ; D50 - General Equilibrium and Disequilibrium. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005837129