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An index theorem for nonconvex production economies

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  • Jouini, Elyes

Abstract

We consider a general equilibrium model in which the production sector may exhibit incresing returns to scale or more general types of nonconvexities. We assume that the firms follow general pricing rules. Under standard assumptions in this model, we establish an index formula, which generalizes similar results on exchange economies and on convex production economies. This formula allows us to deduce an equilibrium existence theorem and a uniqueness condition.

Suggested Citation

  • Jouini, Elyes, 1992. "An index theorem for nonconvex production economies," Journal of Economic Theory, Elsevier, vol. 57(1), pages 176-196.
    • Handle: RePEc:eee:jetheo:v:57:y:1992:i:1:p:176-196
    DOI: 10.1016/S0022-0531(05)80047-X
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    References listed on IDEAS

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    1. Bonnisseau, Jean-Marc, 1988. "On two existence results of equilibria in economies with increasing returns," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 193-207, April.
    2. Bonnisseau, Jean-Marc & Cornet, Bernard, 1988. "Existence of equilibria when firms follow bounded losses pricing rules," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 119-147, April.
    3. Balasko, Yves, 1975. "Some results on uniqueness and on stability of equilibrium in general equilibrium theory," Journal of Mathematical Economics, Elsevier, vol. 2(2), pages 95-118.
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    5. Kamiya, Kazuya, 1988. "On the survival assumption in marginal (cost) pricing," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 261-273, April.
    6. Balasko, Yves, 1979. "A geometric approach to equilibrium analysis," Journal of Mathematical Economics, Elsevier, vol. 6(3), pages 217-228, December.
    7. repec:dau:papers:123456789/5649 is not listed on IDEAS
    8. Jouini, Elyes, 1989. "A remark on Clarke's normal cone and the marginal cost pricing rule," Journal of Mathematical Economics, Elsevier, vol. 18(1), pages 95-101, February.
    9. Hurwicz, Leonid & Reiter, Stanley, 1973. "On the Boundedness of the Feasible Set Without Convexity Assumptions," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 14(3), pages 580-586, October.
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    Cited by:

    1. GIRAUD, Gaël, 2000. "An algebraic index theorem for non-smooth economies," LIDAM Discussion Papers CORE 2000016, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    2. Covarrubias, Enrique, 2013. "The number of equilibria of smooth infinite economies," Journal of Mathematical Economics, Elsevier, vol. 49(4), pages 263-265.
    3. Antoine Mandel, 2007. "Changes in the firms behavior after the opening of an allowance market," Documents de travail du Centre d'Economie de la Sorbonne b07027, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    4. Antoine Mandel, 2009. "Changes in the firms behavior after the opening of markets of allowances," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 40(1), pages 1-25, July.
    5. repec:dau:papers:123456789/5627 is not listed on IDEAS
    6. Alexandrine Jamin & Antoine Mandel, 2006. "A General Equilibrium Analysis of Emission Allowances," Post-Print halshs-00084002, HAL.
    7. Mandel, Antoine, 2008. "An index formula for production economies with externalities," Journal of Mathematical Economics, Elsevier, vol. 44(12), pages 1385-1397, December.

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