Overview

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. This text combines two features. First, order conditions (of agents' maximization problems) and market clearing conditions, instead of aggregate excess demand functions. Then the application to that extended system of a homotopy argument, which is stated and proved in relatively elementary manner.

Full Product Details

Author:   Antonio Villanacci ,  Laura Carosi ,  Pierluigi Benevieri ,  Andrea Battinelli
Publisher:   Springer-Verlag New York Inc.
Imprint:   Springer-Verlag New York Inc.
Edition:   2002 ed.
Dimensions:   Width: 15.50cm , Height: 2.80cm , Length: 23.50cm
Weight:   1.950kg
ISBN:  

9781402072017

ISBN 10:   1402072015
Pages:   474
Publication Date:   31 August 2002
Audience:   College/higher education ,  Professional and scholarly ,  Undergraduate ,  Postgraduate, Research & Scholarly
Format:   Hardback
Publisher's Status:   Active
Availability:   Awaiting stock  
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Reviews

From the reviews: They [authors] should be congratulated for their effort to present this apparatus in Part I of their book in a way that is as simple and transparent as possible, but without making compromises with regard to the required level of generality. I am not aware of any other text in economics that gives a comparable treatment. The book is required reading for anyone that would like to go beyond the traditional complete markets general equilibrium model, and that wants to have a deeper undestanding of the role played by financial markets. [...] it offers a complete account of the subject of incomplete markets, and I would therefore like to recommend it highly. (P.J.J. Herings, Maastricht University in Journal of Economics / Zeitschrift fur Nationalokonomie, 81:3 (2004) Although the book is written, as the authors say, for graduate students in an economics program and stops before really entering the core of differential topology, it is also interesting and profitable for mathematicians being involved with modern theoretical economic problems or applications of differential topology. (Alfred Gopfert, Zentralblatt MATH, Vol. 1103 (5), 2007)

From the reviews: <p> They [authors] should be congratulated for their effort to present this apparatus in Part I of their book in a way that is as simple and transparent as possible, but without making compromises with regard to the required level of generality. I am not aware of any other text in economics that gives a comparable treatment. The book is required reading for anyone that would like to go beyond the traditional complete markets general equilibrium model, and that wants to have a deeper undestanding of the role played by financial markets. [...] it offers a complete account of the subject of incomplete markets, and I would therefore like to recommend it highly. (P.J.J. Herings, Maastricht University in Journal of Economics / Zeitschrift fA1/4r NationalAkonomie, 81: 3 (2004) <p> Although the book is written, as the authors say, for graduate students in an economics program and stops before really entering the core of differential topology, it is also interesting and profitable for mathematicians being involved with modern theoretical economic problems or applications of differential topology. (Alfred GApfert, Zentralblatt MATH, Vol. 1103 (5), 2007)

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