Evolution paths on the equilibrium manifold

Loi Andrea and Stefano Matta ()

MPRA Paper from University Library of Munich, Germany

Abstract: In a pure exchange smooth economy with fixed total resources, we de- fine the length between two regular equilibria belonging to the equilibrium manifold as the number of intersection points of the evolution path connecting them with the set of critical equilibria. We show that there exists a minimal path according to this definition of length.

Keywords: Equilibrium manifold; regular economies; critical equilibria; catastrophes; Jordan-Brouwer separation theorem. (search for similar items in EconPapers)
JEL-codes: D51 D50 (search for similar items in EconPapers)
Date: 2006-11
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Persistent link: http://EconPapers.repec.org/RePEc:pra:mprapa:4694

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