Sunspots do matter: a simple disproof of Mas-Colell

Marco Huesch ()
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Marco Huesch: UCLA Anderson School of Management

Economics Bulletin, 2008, vol. 5, issue 19, 1-20

Abstract: Mas-Colell conjectured that, for economies admitting a unique deterministic equilibrium, sunspot equilibria that 'matter'' would not exist. I prove an abundance of such equilibria using simple linear algebra.

Keywords: Animal; Spirits (search for similar items in EconPapers)
JEL-codes: E0 E3 (search for similar items in EconPapers)
Date: 2008-07-03
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