Equilibrium conditions in smooth infinite economies with separable utilities are described by Fredholm maps, which are Frechet differentiable. Therefore, Smale's extension of Sard's theorem can be used to studying infinite economies. We study structural stability and local uniqueness of...

Equilibrium conditions in smooth infinite economies with separable utilities are described by Fredholm maps, which are Frechet differentiable. Therefore, Smale's extension of Sard's theorem can be used to studying infinite economies. We study structural and local uniqueness of equilibrium in...

I summarize and extend my results establishing that limited arbitrage is necessary and sufficient for the existence of a competitive equilibrium and for the compactness of the Pareto frontier.

In strictly regular economies limited arbitrage is sufficient for the global invertibility of demand, and necessary and sufficient for the uniqueness of equilibrium. This result is established using algebraic topology and holds in economies with short sales, and with finitely or infinitely many...

Different forms of resource allocation - by markets, cooperative games, and by social choice - are unified by one condition, limited arbitrage, which is defined on the endowments and the preferences of the traders of an Arrow Debreu economy. Limited arbitrage is necessary and sufficient for the...

This paper establishes a clear connection between equilibrium theory, game theory and social choice theory by showing that, for a well defined social choice problem, a condition which is necessary and sufficient to solve this problem - limited arbitrage - is the same as the condition which is...