Tastes and Singular Economies

Elvio Accinelli (), Alfredo Piria () and Martín Puchet ()
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Alfredo Piria: Facultad de Ingeniería, IMERL, Universidad de la República
Martín Puchet: UNAM, México.

No 1301, Documentos de Trabajo (working papers) from Department of Economics - dECON

Abstract: The object of this paper is to show some examples of economies in which singular equilibria occur as a consequence of utility functions and where this equilibria play a crucial rolle to understand the behavior of the economy as a system. An economy will be called singular if little changes in the tastes of the consumer imply big changes in the equilibria set.

Date: 2001-11
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http://decon.edu.uy/publica/2001/Doc1301.pdf (application/pdf)

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