Catastrophes minimization on the equilibrium manifold

Andrea Loi and Stefano Matta

Journal of Mathematical Economics, 2011, vol. 47, issue 4, 617-620

Abstract: In a fixed total resources setting, we show that there exists a Riemannian metric g on the equilibrium manifold, which coincides with any (fixed) Riemannian metric with an economic meaning outside an arbitrarily small neighborhood of the set of critical equilibria, such that a minimal geodesic connecting two regular equilibria is arbitrarily close to a smooth path which minimizes catastrophes.

Keywords: Equilibrium manifold; Regular economies; Catastrophes; Riemannian metric (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:47:y:2011:i:4:p:617-620

DOI: 10.1016/j.jmateco.2011.08.003

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