Continuity of equilibria in exchange economies

Article Abstract:

Continuous preference is studied within the context of pure exchange economies. Results indicate that an open set is formed by economies with equilibria in a finite number of small disjoint balls for continuoous economies. Moreover, equilibrium price correspondence in regular economies are lower semi-continuous while in economies overall is upper semi-continuous.

Research, Continuity, Continuity (Mathematics)

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Note on the Optimality of Unemployment Equilibria

Article Abstract:

Dreze's theory of equilibrium in an economy with rigid prices is expanded to include unemployment equilibria. Fixed price equilibria exist for conditions under which quantity rationing affects supplies only. Characterization is obtained for a set of undominated unemployment equilibria.

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Counting Groves-Ledyard Equilibria via Degree Theory

Article Abstract:

Degree theory is applied to the Groves-Ledyard mechanism to determine the optimal amounts of public goods. The number of equilibria in these economics increases with increasing agents. Large numbers of agents may lead to inefficient results.

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