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.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11584/95426
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 0
  • ???jsp.display-item.citation.isi??? 0
social impact