From Singularity Theory to Finiteness of Walrasian Equilibria

19 Pages Posted: 25 Jul 2010 Last revised: 20 Jan 2013

See all articles by Sofia B.S.D. Castro

Sofia B.S.D. Castro

Universidade do Porto - Faculdade de Economia (FEP); Universidade do Porto - Centro de Matemática da Universidade do Porto (CMUP)

Sami F. Dakhlia

ESCE - International Business School

Peter B. Gothen

Universidade do Porto - Centro de Matemática da Universidade do Porto (CMUP); Departamento de Matemática Pura, Faculdade de Ciências da Universidade do Porto

Date Written: July 25, 2010

Abstract

The main result of this paper states that there exists a residual subset of the set of critical economies whose associated equilibria are finite in number. We also show that this subset does not contain any open set and therefore the result is the best possible for our choice of topology (compact-open topology). The proof rests on results and concepts from singularity theory.

Keywords: Arrow-Debreu, Transversality, Exchange Economy, Critical Equilibria, Finite Singularity Type

JEL Classification: D50, C62, C02

Suggested Citation

Castro, Sofia B.S.D. and Dakhlia, Sami F. and Gothen, Peter B., From Singularity Theory to Finiteness of Walrasian Equilibria (July 25, 2010). Available at SSRN: https://ssrn.com/abstract=1648426 or http://dx.doi.org/10.2139/ssrn.1648426

Sofia B.S.D. Castro

Universidade do Porto - Faculdade de Economia (FEP) ( email )

Rua Dr. Roberto Frias
s/n
4200-464 Porto, 4200-464
Portugal

Universidade do Porto - Centro de Matemática da Universidade do Porto (CMUP) ( email )

Rua do Campo Alegre
Porto
Portugal

Sami F. Dakhlia (Contact Author)

ESCE - International Business School ( email )

10 rue Michel Sextius
Paris, 75015
France

HOME PAGE: http://tinyurl.com/dakhlia

Peter B. Gothen

Universidade do Porto - Centro de Matemática da Universidade do Porto (CMUP) ( email )

FCUP
Rua do Campo Alegre 687
Porto, 4169-007
Portugal

HOME PAGE: http://cmup.fc.up.pt/cmup/pbgothen/

Departamento de Matemática Pura, Faculdade de Ciências da Universidade do Porto ( email )

Rua do Campo Alegre 687
Porto, 4169-007
Portugal

HOME PAGE: http://cmup.fc.up.pt/cmup/pbgothen/

Register to save articles to
your library

Register

Paper statistics

Downloads
74
rank
306,744
Abstract Views
861
PlumX Metrics