An algebraic index theorem for non-smooth economies

Gaël Giraud

No 2000016, LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Abstract: In this paper, we prove an existence theorem for equilibria in production economies with increasing returns, which generalizes the classic results on this topic. In particular, we eliminate both the free-disposal assumptions and any smoothness requirements on the boundary of the production sets. For this purpose, we propose a new definition of the topological degree for non-convex-valued correspondences defined on non-smooth topological manifolds.

Keywords: Non-smooth production; topological degree; local homology; increasing returns. (search for similar items in EconPapers)
JEL-codes: C62 D51 (search for similar items in EconPapers)
Date: 2000-03
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Citations: View citations in EconPapers (3)

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Working Paper: An Algebraic Index Theorem for Non-smooth Economies (2001)
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