Constructing pure-exchange economies with many equilibria

Economic Theory ◽

10.1007/s00199-021-01406-0 ◽

2022 ◽

Author(s):

Pascal Gauthier ◽

Timothy J. Kehoe ◽

Erwan Quintin

Keyword(s):

Exchange Economies ◽

Download Full-text

On Convergence of Contractual Trajectories in Pure Exchange Economies

SSRN Electronic Journal ◽

10.2139/ssrn.1722592 ◽

2006 ◽

Author(s):

Valeriy M. Marakulin

Keyword(s):

Exchange Economies ◽

Download Full-text

Coalitional Fairness of Allocations in Pure Exchange Economies

Econometrica ◽

10.2307/1913075 ◽

1975 ◽

Vol 43 (4) ◽

pp. 661 ◽

Author(s):

Jean Jaskold-Gabszewicz

Keyword(s):

Exchange Economies ◽

Download Full-text

A remark on the continuity of the Walras correspondence in pure exchange economies

Economic Theory Bulletin ◽

10.1007/s40505-014-0064-2 ◽

2014 ◽

Vol 3 (1) ◽

pp. 33-41

Author(s):

Ram Sewak Dubey ◽

Francesco Ruscitti

Keyword(s):

Exchange Economies ◽

Download Full-text

Constructing Pure-Exchange Economies with Many Equilibria

10.21034/sr.631 ◽

2021 ◽

Author(s):

Pascal Gauthier ◽

Timothy J. Kehoe ◽

Erwan Quintin

Keyword(s):

Exchange Economies ◽

Download Full-text

Inefficiency of strategy-proof allocation mechanisms in pure exchange economies

Social Choice and Welfare ◽

10.1007/bf00177662 ◽

1991 ◽

Vol 8 (3) ◽

Author(s):

Lin Zhou

Keyword(s):

Exchange Economies ◽

Pure Exchange ◽

Download Full-text

Exploring multiple equilibria for symmetric 2 × 2 CES/LES pure exchange economies

Applied Mathematics-A Journal of Chinese Universities ◽

10.1007/s11766-010-2422-7 ◽

2010 ◽

Vol 25 (2) ◽

pp. 137-154 ◽

Author(s):

Xiao-jun Shi ◽

Shun-ming Zhang

Keyword(s):

Multiple Equilibria ◽

Exchange Economies ◽

Download Full-text

Generic properties of the core and equilibria of pure exchange economies

Journal of Mathematical Economics ◽

10.1016/s0304-4068(96)00781-1 ◽

1997 ◽

Vol 27 (4) ◽

pp. 471-486 ◽

Author(s):

Ashvin Varada Rajan

Keyword(s):

Exchange Economies ◽

Generic Properties ◽

The Core ◽

Download Full-text

Extension of a theorem of Smale on equilibria for pure exchange economies

Journal of Mathematical Economics ◽

10.1016/0304-4068(78)90013-7 ◽

1978 ◽

Vol 5 (3) ◽

pp. 245-253 ◽

Author(s):

J.H. Van Geldrop

Keyword(s):

Exchange Economies ◽

Download Full-text

Constructing Examples with 5 Equilibria for Symmetric 3 × 2 Ces / Les Pure Exchange Economies

Acta Mathematica Scientia ◽

10.1016/s0252-9602(12)60189-1 ◽

2012 ◽

Vol 32 (6) ◽

pp. 2411-2430

Author(s):

Huang Hui ◽

Shi Xiaojun ◽

Zhang Shunming

Keyword(s):

Exchange Economies ◽

Download Full-text

PROPOSITIONS OF FIVE EQUILIBRIA EXAMPLES FOR 3×2 CES/LES PURE EXCHANGE ECONOMIES

International Journal of Information Technology & Decision Making ◽

10.1142/s0219622004001264 ◽

2004 ◽

Vol 03 (04) ◽

pp. 583-604

Author(s):

HUI HUANG ◽

SHUNMING ZHANG

Keyword(s):

Parameter Space ◽

Large Range ◽

Exchange Economy ◽

Exchange Economies ◽

Numerical Examples ◽

Pure Exchange ◽

Pure Exchange Economy ◽

Number Of Equilibria

This paper reports numerical examples for a 3 individual 2 good CES/LES pure exchange economy in which 5 equilibria exist. We explore the size of the regions of the parameter space for which 5 equilibria persist, and show these ranges to be very small in each parameter. Other features of the equilibrium manifolds are examined. The number of equilibria can jump from 5 to 3 to 1, or even from 5 to 1. We also find changes of (Kehoe) equilibrium indices from -1 to +1 or from +1 to -1. Then, we provide parameter changes simultaneously in a large range that preserve given 5 equilibria.

Download Full-text