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The Number of Equilibria of Smooth Infinite Economies

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  • Covarrubias Enrique

Abstract

We construct an index theorem for smooth infinite economies that shows that generically the number of equilibria is odd. As a corollary, this gives a new proof of existence and gives conditions that guarantee global uniqueness of equilibria.

Suggested Citation

  • Covarrubias Enrique, 2011. "The Number of Equilibria of Smooth Infinite Economies," Working Papers 2011-02, Banco de México.
    • Handle: RePEc:bdm:wpaper:2011-02
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    Cited by:

    1. Covarrubias Enrique, 2013. "Global Invertibility of Excess Demand Functions," Working Papers 2013-21, Banco de México.
    2. Covarrubias, Enrique, 2011. "The equilibrium set of economies with a continuous consumption space," Journal of Mathematical Economics, Elsevier, vol. 47(2), pages 137-142, March.

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    More about this item

    JEL classification:

    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General

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