10 papers
Monodromy of Walrasian Equilibrium Prices: A Fixed-Preference Endowment-Redistribution Construction
Andrea Loi, Stefano Matta
Suppose an economy moves continuously along a closed path of fundamentals and returns exactly to its initial state. A regular Walrasian equilibrium price followed continuously alon…
Sorting and Global Uniqueness in Two-Good HARA Economies with Many Patience Types
Andrea Loi, Stefano Matta
We study global uniqueness of competitive equilibrium in two-good pure-exchange economies with heterogeneous impatience types and a common HARA Bernoulli utility. The paper connect…
Curvature, Minimality and Uniqueness of Equilibrium
Andrea Loi, Stefano Matta
For a smooth pure exchange economy with fixed aggregate resources, we study two geometric conditions on the equilibrium manifold endowed with the metric induced from its Euc…
Endowments, patience types, and uniqueness in two-good HARA utility economies
Andrea Loi, Stefano Matta
This paper establishes a link between endowments, patience types, and the parameters of the HARA Bernoulli utility function that ensure equilibrium uniqueness in an economy with tw…
Uniqueness of equilibrium and redistributive policies: a geometric approach to efficiency
Andrea Loi, Stefano Matta, Daria Uccheddu
This paper examines the relationship between resource reallocation, uniqueness of equilibrium and efficiency in economics. We explore the implications of reallocation policies for…
Equilibrium selection: a geometric approach
Andrea Loi, Stefano Matta, Daria Uccheddu
In this paper we propose a geometric approach to the selection of the equi- librium price. After a perturbation of the parameters, the new price is selected thorough the compositio…
Robustness of statistical models
Andrea Loi, Stefano Matta
A statistical structure on a smooth manifold induced by is said to be {\em robust} if there exists an open neighborhood of in…
Risk aversion and uniqueness of equilibrium: a polynomial approach
Andrea Loi, Stefano Matta
We study the connection between risk aversion, number of consumers and uniqueness of equilibrium. We consider an economy with two goods and impatience types, where each type ha…
A note on local uniqueness of equilibria: How isolated is a local equilibrium?
Stefano Matta
The motivation of this note is to show how singular values affect local uniqueness. More precisely, Theorem 3.1 shows how to construct a neighborhood (a ball) of a regular equilibr…
Minimal entropy and uniqueness of price equilibria in a pure exchange economy
Andrea Loi, Stefano Matta
We introduce uncertainty into a pure exchange economy and establish a connection between Shannon's differential entropy and uniqueness of price equilibria. The following conjecture…