AriasR., Omar Fdo. (2014): On the pseudoequilibrium manifold in semialgebraic economies with real financial assets.

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Abstract
The aim of this paper is to prove that if the consumption set of an economy with incomplete financial markets is semialgebraic, then the corresponding pseudoequilibrium manifold is also semialgebraic. For this, we proceed by constructing an incomplete financial economy with real assets and semialgebraic utility functions. Then, we show that the spotequilibrium set and the pseudoequilibrium set are smooth semialgebraic manifolds. We extent this results by showing that the pseudoequilibrium natural projection is a semialgebraic diffeomorphism in each regular point of the semialgebraic pseudoequilibrium manifold. It is directly related with the local determinacy of pseudoequilibrium.
Item Type:  MPRA Paper 

Original Title:  On the pseudoequilibrium manifold in semialgebraic economies with real financial assets 
English Title:  On the pseudoequilibrium manifold in semialgebraic economies with real financial assets 
Language:  English 
Keywords:  semialgebraic, finance, spotequilibrium, pseudoequilibrium 
Subjects:  D  Microeconomics > D5  General Equilibrium and Disequilibrium > D50  General D  Microeconomics > D5  General Equilibrium and Disequilibrium > D51  Exchange and Production Economies D  Microeconomics > D5  General Equilibrium and Disequilibrium > D52  Incomplete Markets 
Item ID:  54297 
Depositing User:  Omar F. Arias 
Date Deposited:  10 Mar 2014 18:51 
Last Modified:  01 Oct 2019 15:23 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/54297 