Limited Arbitrage and Uniqueness of Equilibrium in Stricly Regular Economies

Graciela Chichilnisky

Working Papers from Columbia - Graduate School of Business

Abstract: In strickly regular economies limited arbitrage is sufficient for the global invertibility of demand, and necessary and sufficient for the uniqueness of equilibrium. This result is established using algevraic topology and holds in economies with short sales, and with finitely or infinitely many markets.

Keywords: ECONOMIC EQUILIBRIUM; ARBITRATION (search for similar items in EconPapers)
JEL-codes: J52 (search for similar items in EconPapers)
Pages: 8 pages
Date: 1996
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:fth:colubu:96-17

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