Evolution paths on the equilibrium manifold |
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Authors: | Andrea Loi Stefano Matta |
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Institution: | 1. Dipartimento di Matematica e Informatica, Università di Cagliari, Italy;2. Dipartimento di Economia, Università di Cagliari, viale S. Ignazio 84, 09123 Cagliari, Italy |
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Abstract: | In a pure exchange smooth economy with fixed total resources, we define the length between two regular equilibria belonging to the equilibrium manifold as the number of intersection points of the evolution path connecting them with the set of critical equilibria. We show that there exists a minimal path according to this definition of length. |
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Keywords: | D50 |
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