Continuity and Uniqueness of Equilibria for Linear Exchange Economies

Jean-Marc Bonnisseau, Michael Florig () and Alejandro Jofré
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Michael Florig: CERMSEM - CEntre de Recherche en Mathématiques, Statistique et Économie Mathématique - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique
Alejandro Jofré: CMM - Centre de modélisation mathématique / Centro de Modelamiento Matemático [Santiago] - UCHILE - Universidad de Chile = University of Chile [Santiago] - CNRS - Centre National de la Recherche Scientifique

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Abstract: The purpose of this paper is to study the continuity and uniqueness properties of equilibria for linear exchange economies. We characterize the sets of utility vectors and initial endowments for which the equilibrium price is unique and respectively the set for which the equilibrium allocation is unique. We show that the equilibrium allocation correspondence is continuous with respect to the initial endowments and we characterize the set of full measure where the equilibrium allocation correspondence with respect to the initial endowments and utility vectors is continuous.

Keywords: general equilibrium; linear utility functions; sensitivity analysis; equilibrium correspondence (search for similar items in EconPapers)
Date: 2001
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Published in Journal of Optimization Theory and Applications, 2001, 109 (2), pp.237-263. ⟨10.1023/A:1017517020329⟩

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Related works:
Journal Article: Continuity and Uniqueness of Equilibria for Linear Exchange Economies (2001)
Working Paper: Continuity and Uniqueness of Equilibria for Linear Exchange Economies (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:halshs-00265684

DOI: 10.1023/A:1017517020329

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