Balasko (1978) shows that in a compact subset of the space of economies, not too many economies can have too many equilibria. We extend Balasko’s result to the whole set of economies for a suitable measure. We show that the measure of economies with a large number of equilibria approaches zero as this number tends to infinity. An analogous result in the infinite-dimensional setting is also established.
Measures of economies with an arbitrarily large number of equilibria
LOI, ANDREA;MATTA, STEFANO
2012-01-01
Abstract
Balasko (1978) shows that in a compact subset of the space of economies, not too many economies can have too many equilibria. We extend Balasko’s result to the whole set of economies for a suitable measure. We show that the measure of economies with a large number of equilibria approaches zero as this number tends to infinity. An analogous result in the infinite-dimensional setting is also established.File in questo prodotto:
File | Dimensione | Formato | |
---|---|---|---|
8 ijet_2012.pdf
Solo gestori archivio
Tipologia:
versione editoriale (VoR)
Dimensione
121.51 kB
Formato
Adobe PDF
|
121.51 kB | Adobe PDF | Visualizza/Apri Richiedi una copia |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.