The index theorem for a GEI economy when the degree of incompleteness is even
Article Abstract:
A system of computing the index in an incomplete market economy is presented; the index theorem is studied with regard to its application in general equilibrium model with incomplete markets, to find multiple equilibria and sunspots, among other interesting phenomena. The paper shows that generically in endowments and asset structure, the index theorem is applicable when the deficiency of markets is even. The finding derived from the indices of homotopies presented for calculation of equilibria in these markets.
Publication Name: The Journal of Mathematical Economics
Subject: Mathematics
ISSN: 0304-4068
Year: 2003
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Discrete fixed point theorem reconsidered
Article Abstract:
The inaccuracy of Iimura's discrete fixed point theorem is shown through an example. By the application of the concept of integrally convex sets, the correct form of the theorem is presented.
Publication Name: The Journal of Mathematical Economics
Subject: Mathematics
ISSN: 0304-4068
Year: 2005
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A positional version of Arrow's theorem
Article Abstract:
A new version of Arrow's theorem, based on two horizontal aggregation conditions, is presented. Strict preference, dictatorship, etc. are discussed.
Publication Name: The Journal of Mathematical Economics
Subject: Mathematics
ISSN: 0304-4068
Year: 2005
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