Walras Equilibria: Finiteness and Local Stability

O. Nomia

Papiers d'Economie Mathématique et Applications from Université Panthéon-Sorbonne (Paris 1)

Abstract: We study a class of exchange economies where the characteristics of the agent are fixed but the initial endowments. We define a notion of regular economies which encompasses the different approach of the literature. We then prove that a regular exchange economy has a finite odd number of normalized equilibrium price if the excess demand function satisfies a boundary condition. Then we study the set of regular economies and we prove that it is generic and open under usual assumptions.

Keywords: PRICES; DEMAND; WALRAS EQUILIBRIUM (search for similar items in EconPapers)
JEL-codes: D50 (search for similar items in EconPapers)
Date: 2000

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Persistent link: http://EconPapers.repec.org/RePEc:fth:pariem:2000.118

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