Necessary and sufficient conditions for global uniqueness of equilibria

MPRA Paper from University Library of Munich, Germany

Abstract: We study the problem of finding necessary and sufficient conditions that guarantee global uniqueness of equilibria in a pure exchange economy. We show that for every economy to have a unique equilibrium it is necessary and sufficient that (i) there are no critical economies and (ii) a compact set of economies has a compact set of equilibria.

Keywords: general equilibrium; invertibility; global uniqueness; critical economy; regular economy; equilibrium manifold; natural projection; diffeomorphism; Jacobian (search for similar items in EconPapers)
JEL-codes: D50 D51 (search for similar items in EconPapers)
Date: 2008-05-05
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