dc.contributorFGV
dc.creatorPascoa, Mario Rui
dc.creatorWerlang, Sérgio Ribeiro da Costa
dc.date.accessioned2018-05-10T13:35:26Z
dc.date.accessioned2022-11-03T20:36:48Z
dc.date.available2018-05-10T13:35:26Z
dc.date.available2022-11-03T20:36:48Z
dc.date.created2018-05-10T13:35:26Z
dc.date.issued1999-11
dc.identifier0304-4068
dc.identifierhttp://hdl.handle.net/10438/23010
dc.identifier000083858500002
dc.identifierpascoa, mario/0000-0001-5654-1525
dc.identifiernipe, cef/A-4218-2010
dc.identifier.urihttps://repositorioslatinoamericanos.uchile.cl/handle/2250/5041657
dc.description.abstractConcavifiable preferences are representable by a function which is twice differentiable almost everywhere, by theorem of Alexandroff [Alexandroff, A.D., 1939. Almost Everywhere Existence of Second Differentials of Convex Functions and Some Related Properties of Convex Surfaces (Russian), Leningrad State University Annals, 3, Math. Series 6, 3-35]. We show that if the bordered hessian determinant of a concave utility representation vanishes only on a null set of bundles, then demand is approximately pointwise Lipschitzian outside of the preimage of a null set of bundles. Given this property, equilibrium prices will be locally unique, for almost every endowment. We give an example of an economy satisfying these conditions hut not the smoothness conditions of Katzner [Katzner, D., 1968. A note on the differentiability of consumer demand functions. Econometrica 36, 415-418], Debreu [Debreu, G., 1970. Economies with a finite set of equilibria. Econometrica 44, 387-392], and Debreu [Debreu, G., 1972. Smooth preferences. Econometrica 40, 603-615]. (C) 1999 Elsevier Science B.V. All rights reserved.
dc.languageeng
dc.publisherElsevier Science Sa
dc.relationJournal of mathematical economics
dc.rightsrestrictedAccess
dc.sourceWeb of Science
dc.subjectNonsmooth economies
dc.subjectDeterminacy of equilibria
dc.subjectEconomias não suaves
dc.subjectDeterminação de equilíbrios
dc.titleDeterminacy of equilibria in nonsmooth economies
dc.typeArticle (Journal/Review)


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