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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...
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We consider the problem of determining the individual preference rankings that are necessarily implied by a dataset consisting of prices, income distributions and total resources. We show the equivalence between the compatibility with individual preference rankings and the existence of a...
Persistent link: https://www.econbiz.de/10004999758
Sets consisting of finite collections of prices and endowments such that total resources are constant, or collinear, or approximately collinear, can always be viewed as subsets of some equilibrium manifold. The additional requirement that such collections of price-endowment data are compatible...
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We consider the problem of determining the individual preference rankings that are necessarily implied by a dataset consisting of prices, income distributions and total resources. We show the equivalence between the compatibility with individual preference rankings and the existence of a...
Persistent link: https://www.econbiz.de/10013160406