arXiv
Open Access
2017
A geometric approach to the transfer problem for a finite number of traders
Tomohiro Uchiyama
Abstrak
We present a complete characterization of the classical transfer problem for an exchange economy with an arbitrary finite number of traders. Our method is geometric, using an equilibrium manifold developed by Debreu, Mas-Colell, and Balasko. We show that for a regular equilibrium the transfer problem arises if and only if the index at the equilibrium is $-1$. This implies that the transfer problem does not happen if the equilibrium is Walras tatonnement stable. Our result generalizes Balasko's analogous result for an exchange economy with two traders.
Topik & Kata Kunci
Penulis (1)
T
Tomohiro Uchiyama
Akses Cepat
Informasi Jurnal
- Tahun Terbit
- 2017
- Bahasa
- en
- Sumber Database
- arXiv
- Akses
- Open Access ✓