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Title:The natural projection approach to production and uncertainty PDF Logo
Authors:Stiefenhofer, Pascal
Issue Date:2011
Series/Report no.:Economics Discussion Papers 2011-10
Abstract:The paper generalizes the natural projection approach introduced by Balasko (1988) for the study of the qualitative equilibrium structure of exchange economies to a two period private ownership production model with uncertainty. It shows that long run equilibrium properties of the production model are those of the pure exchange economy with production adjusted demand functions. Associated with every long run equilibrium there exist a finite, odd number of short run equilibria.
Subjects:existence of equilibrium
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Document Type:Working Paper
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers

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