Solving Systems of Simultaneous Equations in Economics

We show that there is a broad range of systems of simultaneous equations that arise in economics as descriptions of equilibrium that can be solved in elementary fashion via degree theory. Some of these systems are not susceptible to analysis by standard Brouwer fixed point methods. Two of our applications are to general equilibrium with incomplete markets, and to Nonconvex production with noncompetitive pricing rules.

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Year of publication:	1989-10
Authors:	Geanakoplos, John ; Shafer, Wayne
Institutions:	Cowles Foundation for Research in Economics, Yale University
Subject:	Simultaneous equations \| incomplete markets \| degree theory \| general equilibrium

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Extent:	application/pdf
Series:	Cowles Foundation Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	CFP 749. Published in Journal of Mathematical Economics (1990), 19: 69-93 The price is None Number 902 31 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005634702