SMOOTH INFINITE ECONOMIES

Authors
CHICHILNISKY G ZHOU YQ
Citation
G. Chichilnisky et Yq. Zhou, SMOOTH INFINITE ECONOMIES, Journal of mathematical economics, 29(1), 1998, pp. 27-42
Citations number
22
Categorie Soggetti
Social Sciences, Mathematical Methods",Economics,Mathematics,Mathematics
Journal title
Journal of mathematical economics → ACNP
ISSN journal
03044068
Volume
29
Issue
1
Year of publication
1998
Pages
27 - 42
Database
ISI
SICI code
0304-4068(1998)29:1<27:>2.0.ZU;2-4
Abstract
Equilibrium conditions in smooth infinite economies with separable uti lities are described by Fredholm maps, which are Frechet differentiabl e. Therefore, Smale's extension of Sard's theorem can be used to study infinite economies. We study structural stability and local uniquenes s of equilibrium in smooth infinite economies and relate the theory of markets to modern Fredholm theory. (C) 1998 Elsevier Science S.A.