The number of equilibria of smooth infinite economies with separable utilities

Covarrubias, Enrique (2008): The number of equilibria of smooth infinite economies with separable utilities.

Abstract

We construct an index theorem for smooth infinite economies with separable utilities that shows that generically the number of equilbria is odd. As a corollary, this gives a new proof of existence and gives conditions that guarantee global uniqueness of equilibria.

• Item Type: MPRA Paper
• Language: English
• Keywords: Uniqueness; determinacy; equilibria; infinite economy; Fredholm map; equilibrium manifold; Banach manifold; index theorem; vector field; Rothe
• Subjects: D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D50 - General; D - Microeconomics > D5 - General Equilibrium and Disequilibrium; D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D51 - Exchange and Production Economies

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