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Finiteness of the Number of Equilibria in a Production Economy with Uncertainty

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  • Pascal Stiefenhofer

Abstract

This paper shows that the inverse image of the natural projection defines a ramified covering with finite layers. Finiteness of equilibria for regular two period production economies with uncertainty follows from this property.

Suggested Citation

  • Pascal Stiefenhofer, 2011. "Finiteness of the Number of Equilibria in a Production Economy with Uncertainty," Discussion Papers 11/08, Department of Economics, University of York.
    • Handle: RePEc:yor:yorken:11/08
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    References listed on IDEAS

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    1. repec:dau:papers:123456789/12938 is not listed on IDEAS
    2. Debreu, Gerard, 1970. "Economies with a Finite Set of Equilibria," Econometrica, Econometric Society, vol. 38(3), pages 387-392, May.
    3. Balasko, Yves, 1975. "The Graph of the Walras Correspondence," Econometrica, Econometric Society, vol. 43(5-6), pages 907-912, Sept.-Nov.
    4. Fuchs, Gerard, 1974. "Private ownership economies with a finite number of equilibria," Journal of Mathematical Economics, Elsevier, vol. 1(2), pages 141-158, August.
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    More about this item

    Keywords

    General Equilibrium; Uncertainty; Production.;
    All these keywords.

    JEL classification:

    • D20 - Microeconomics - - Production and Organizations - - - General
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

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