In order to understand the various strands of general equilibrium theory, why it has taken the forms that it has since the time of Leon Walras, and to appreciate fully a view of the present state of general equilibrium theorizing, it is essential to understand Walras’s work and examine its influen
Topological Methods in Walrasian Economics
✍ Scribed by Dr. Egbert Dierker (auth.)
- Publisher
- Springer-Verlag Berlin Heidelberg
- Year
- 1974
- Tongue
- English
- Leaves
- 136
- Series
- Lecture Notes in Economics and Mathematical Systems 92
- Edition
- 1
- Category
- Library
No coin nor oath required. For personal study only.
✦ Synopsis
In winter 71/72 I held a seminar on general equilibrium theory for a jOint group of students in mathematics and in econo mics at the university of Bonn , w.Germany1~ The economists , how ever , had a mathematical background well above the average • Most of the material treated in that seminar is described in these notes. The connection between smooth preferences and smooth demand func tions [ see Debreu (1972) ] and regular economies based on agents with smooth preferences are not presented here • Some pedagogical difficulties arose from the fact that elementary knowledge of algebraic topology is not assumed although it is helpful and indeed necessary to make some arguments precise • It is only a minor restriction , at present , that functional ana lysis is not used • But with the development of the theory more economic questions will be considered in their natural infinite dimensional setting • Economic knowledge is not required , but especially a reader without economic background will gain much by reading Debreu's classic "Theory of Value" (1959) • Although the formulation of our economic problem uses a map between Euclidean spaces only , we shall also consider ma- folds • Manifolds appear in our situation because inverse images under differentiable mappings between Euclidean spaces are very often differentiable manifolds • ( Under differentiability assump tions , for instance , the graph of the equilibrium set correspon
✦ Table of Contents
Front Matter....Pages N1-V
The Economic Framework....Pages 3-14
Introduction to the Mathematics....Pages 15-24
Differentiable Manifolds and Mappings, Tangents, Vectorfields....Pages 25-39
Regular Equilibria. A First Approach....Pages 40-46
Scarf’s Example....Pages 47-55
Excess Demand Functions....Pages 56-66
Debreu’s Theorem on the Finiteness of the Number of Equilibria of an Economy....Pages 67-72
Continuity of the Walras Correspondence for C° Demand Functions ....Pages 73-88
Density of Transversal Intersection....Pages 89-95
Regular Economies....Pages 96-103
Stability Questions and the Number of Equilibria....Pages 104-116
Large Economies....Pages 117-125
Back Matter....Pages 126-133
✦ Subjects
Economics/Management Science, general
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