Evolution paths on the equilibrium manifold

Loi Andrea and Stefano Matta

MPRA Paper from University Library of Munich, Germany

Abstract: In a pure exchange smooth economy with fixed total resources, we de- fine the length between two regular equilibria belonging to the equilibrium manifold as the number of intersection points of the evolution path connecting them with the set of critical equilibria. We show that there exists a minimal path according to this definition of length.

Keywords: Equilibrium manifold; regular economies; critical equilibria; catastrophes; Jordan-Brouwer separation theorem (search for similar items in EconPapers)
JEL-codes: D50 D51 (search for similar items in EconPapers)
Date: 2006-11
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Related works:
Journal Article: Evolution paths on the equilibrium manifold (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:4694

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