Business & Economics Books:

Differential Topology and General Equilibrium with Complete and Incomplete Markets

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Description

The goal of this publication is to provide basic tools of differential topology to study systems of nonlinear equations, and to apply them to the analysis of general equilibrium models with complete and incomplete markets. The main content of general equilibrium analysis is to study existence, (local) uniqueness and efficiency of equilibria. To study existence Differential Topology and General Equilibrium with Complete and Incomplete Markets combines two features. As a first step, first order conditions (of agents' maximization problems) and market clearing conditions, instead of aggregate excess demand functions, are used. As a second step, a homotopy argument, stated and proved in relatively elementary manner, is applied to that "extended systemof equations. Local uniqueness and smooth dependence of the endogenous variables from the exogenous ones are studied using a version of a so called parametric transversality theorem.
Release date Australia
December 7th, 2010
Audience
  • Professional & Vocational
Edition
Softcover reprint of the original 1st ed. 2002
Illustrations
XXXII, 474 p.
Pages
474
Dimensions
156x234x25
ISBN-13
9781441953063
Product ID
8964350

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