Evolution paths on the equilibrium manifold

Andrea Loi and Stefano Matta

Journal of Mathematical Economics, 2009, vol. 45, issue 12, 854-859

Abstract: In a pure exchange smooth economy with fixed total resources, we define 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)
Date: 2009
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Working Paper: Evolution paths on the equilibrium manifold (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:45:y:2009:i:12:p:854-859

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