1996 Reports
Limited Arbitrage and Uniqueness of Equilibrium in Strictly Regular Economies
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 markets.
Subjects
Files
- econ_9596_021.pdf application/pdf 495 KB Download File
More About This Work
- Academic Units
- Economics
- Publisher
- Department of Economics, Columbia University
- Series
- Department of Economics Discussion Papers, 9596-21
- Published Here
- March 3, 2011
Notes
July 1996