Global identification from the equilibrium manifold under incomplete markets

Andrés Carvajal and Alvaro Riascos ()

No 04/30, Royal Holloway, University of London: Discussion Papers in Economics from Department of Economics, Royal Holloway University of London

Abstract: We show that, even under incomplete markets, the equilibrium manifold identifies individual demands everywhere in their domains. For this, we assume conditions of smoothness, interiority and regularity, and avoid observational requirements at the individual level. It is crucial that there be date-zero consumption. As a by-product, we develop some duality theory under incomplete markets.

Pages: 26 pages
Date: 2004-11, Revised 2004-11
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Related works:
Working Paper: Global Identification from the equilibrium Manifold under Incomplete markets (2004)
Working Paper: Global identification from the equilibrium manifold under incomplete markets (2004)
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