An index formula for production economies with externalities |
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| Authors: | Antoine Mandel |
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| Affiliation: | 1. Potsdam Institute for Climate Impact Research, Telegrafenberg A51, 14473 Potsdam, Germany;2. Paris School of Economics, University Paris 1, Panthéon-Sorbonne, 106-112 Boulevard de l’hôpital, 75013 Paris, France |
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| Abstract: | We prove that the degree of the equilibrium correspondence of an economy with increasing returns and external effects is equal to (−1)L−1 where L is the dimension of the space of goods. This allows us to infer existence, finiteness and uniqueness results. |
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| Keywords: | C62 D51 D62 |
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