Multiplicity of Equilibria

Christian Ghiglino and Mich Tvede

No 96-17, Discussion Papers from University of Copenhagen. Department of Economics

Abstract: A pure exchange, general equilibrium model is considered and the equilibrium set is studied. It is shown for all total endowments and an open and dense set of preferences that if there arel2 commodities andm2 consumers then there exists a set of distributions of endowments with nonempty interior such that the associated economies have at leastl-1+min{l, m} equilibria forl+min{l, m} even and at leastl-2+min{l, m} equilibria forl+min{l, m} odd.

Keywords: general equilibrium; multiplicity of equilibria (search for similar items in EconPapers)
JEL-codes: D51 (search for similar items in EconPapers)
Pages: 15 pages
Date: 1996-12
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Published in: Journal of Economic Theory, 1997, 75(1) pp 1-15

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Persistent link: https://EconPapers.repec.org/RePEc:kud:kuiedp:9617

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