The main contribution of this paper is to place smooth infinite economies in the setting of the equilibrium manifold and the natural projection map à la Balasko. We show that smooth infinite economies have an equilibrium set that has the structure of a Banach manifold and that the natural...

In this paper we introduce basic notions of new economic model where preference relations on commodities set are represented by a group action on Euclidean space instead of utility function. Conditions that ensure the existence of individual demand functions and a general equilibrium in the...

Succeeding Dutta, Sen and Vohra (1995) and Saijo, Tatamitani and Yamato (1995), we define several conditions of natural mechanisms in production economies, and proposed two types of natural mechanisms, that is, the quantity and price-quantity types.

In the paper, an analytical framework with both increasing returns and transaction costs is developed to investigate the general equilibrium with endogenous specialization and division of labor. In this framework, each individual's optimum decision in choosing her pattern of specialization is...

We study the problem of finding necessary and sufficient conditions that guarantee global uniqueness of equilibria in a pure exchange economy. We show that for every economy to have a unique equilibrium it is necessary and sufficient that (i) there are no critical economies and (ii) a compact...

We study transactions that require investments before trading in a competitive market, when forward contracts fixing the transaction price are absent. We show that, despite the market being perfectly competitive and subject to arbitrarily little uncertainty, the inability to jointly determine...

Succeeding Dutta, Sen and Vohra (1995) and Saijo, Tatamitani and Yamato (1995), we define several conditions of natural mechanisms in production economies, and proposed two types of natural mechanisms, that is, the quantity and price-quantity types.

Building on a class of transcendental preferences for luxury, explicit solutions for price taking behavior and exchange equilibrium are discussed, which share the analytical tractability of Cobb-Douglas models and display positive relevance, along the lines discussed by Freixas and Mas-Colell...