A note on the structural stability of the equilibrium manifold

Andrea Loi and Stefano Matta

Journal of Mathematical Economics, 2010, vol. 46, issue 4, 591-594

Abstract: In a smooth pure exchange economy with fixed total resources we investigate whether the smooth selection property holds when endowments are redistributed across consumers through a continuous (non-local) redistribution policy. We show that if the policy is regular then there exists a unique continuous path of equilibrium prices which support it.

Keywords: Equilibrium; manifold; Regular; equilibria; Catastrophes; Structural; stability; Smooth; selection; of; prices (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:46:y:2010:i:4:p:591-594

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