On the uniqueness of local equilibria

Jean-Marc Bonnisseau and Orntangar Nguenamadji ()
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Orntangar Nguenamadji: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement

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Abstract: The purpose of this paper is to define a new notion of local equilibrium in an exchange economy, where the consumers face lower bounds on net trades. Then, we show that the local equilibrium is unique if the lower bounds are closed enough to 0. By the way, we also provide a convergence result of local equilibrium price toward Walras equilibrium price of a suitable tangent linear economy.

Keywords: General economic equilibrium; Local equilibria; Uniqueness (search for similar items in EconPapers)
Date: 2010-09-01
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Citations: View citations in EconPapers (2)

Published in Journal of Mathematical Economics, 2010, 46, pp.623-632

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Related works:
Journal Article: On the uniqueness of local equilibria (2010)
Working Paper: On the uniqueness of local equilibria (2010)
Working Paper: On the uniqueness of local equilibria (2010)
Working Paper: On the uniqueness of local equilibria (2009)
Working Paper: On the uniqueness of local equilibria (2008)
Working Paper: On the uniqueness of local equilibria (2008)
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