General consumption constraints and regular economies

B-Tier
Journal: Journal of Mathematical Economics
Year: 2008
Volume: 44
Issue: 12
Pages: 1286-1301

Authors (2)

Bonnisseau, Jean-Marc (Paris School of Economics) del Mercato, Elena L. (not in RePEc)

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

In the spirit of Smale's work, we consider pure exchange economies with general consumption sets. In this paper, the consumption set of each household is described in terms of a function called possibility function. The main innovation comes from the dependency of each possibility function with respect to the individual endowments. We prove that, generically in the space of endowments and possibility functions, economies are regular. A regular economy has a finite number of equilibria, which locally depend on endowments and possibility functions in a continuous manner.

Technical Details

RePEc Handle
repec:eee:mateco:v:44:y:2008:i:12:p:1286-1301
Journal Field
Theory
Author Count
2
Added to Database
2026-01-24