Minimality and uniqueness of equilibrium
Andrea Loi and
Stefano Matta
MPRA Paper from University Library of Munich, Germany
Abstract:
In this paper we propose the following conjecture: the equilibrium manifold E(r) ⊂ RLM−1, where L is the number of goods and M the number of consumers, is a minimal submanifold if and only if the price is unique for every economy. We show the validity of this conjecture for an arbitrary number of goods and two consumers and for an arbitrary number of consumers and two goods under the assumption that the normal vector field of E(r) is constant outside a compact subset.
Keywords: Equilibrium manifold; uniqueness of equilibrium; minimal submanifold. (search for similar items in EconPapers)
JEL-codes: D50 D51 (search for similar items in EconPapers)
Date: 2019-05-09
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Citations: View citations in EconPapers (1)
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https://mpra.ub.uni-muenchen.de/106178/1/MPRA_paper_106178.pdf revised version (application/pdf)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:98055
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