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The geometry of finite equilibrium datasets

Lookup NU author(s): Professor Mich Tvede

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Abstract

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 equilibrium datasets is pathconnected when the equilibrium condition does impose restrictions on datasets, as for example when total resources are widely noncollinear.

Publication metadata

Author(s): Balasko Y, Tvede M

Publication type: Article

Publication status: Published

Journal: Journal of Mathematical Economics

Year: 2009

Volume: 45

Issue: 5-6

Pages: 391-396

ISSN (print): 0304-4068

ISSN (electronic): 1873-1538

Publisher: Elsevier BV

URL: http://dx.doi.org/10.1016/j.jmateco.2009.03.009

DOI: 10.1016/j.jmateco.2009.03.009

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