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Author : Graciela Chichilnisky
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 ( download)
Download or read book Limited Arbitrage and Uniqueness of Equilibrium in Strictly Regular Economies written by Graciela Chichilnisky and published by . This book was released on 1996 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Graciela Chichilnisky
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book A Unified Treatment of Finite and Infinite Economies written by Graciela Chichilnisky and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A single condition, limited arbitrage, is shown to be necessary and sufficient for the existence of a competitive equilibrium and the core in economies with any number of markets, finite or infinite, with or without short sales. This extends earlier results of Chichilnisky for finite economies. This unification of finite and infinite economies is achieved by proving that in Hilbert spaces limited arbitrage is necessary and sufficient for the compactness of the Pareto frontier . Limited arbitrage has also been shown to be necessary and sufficient for a resolution of the social choice paradox.
Author : Graciela Chichilnisky
Publisher :
ISBN 13 :
Total Pages : 10 pages
Book Rating : 4.:/5 (129 download)
Download or read book Limited Arbitrage is Necessary and Sufficient for the Existence of an Equilibrium written by Graciela Chichilnisky and published by . This book was released on 2010 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Chichilnisky (Working Paper No. 586, 1991), Chichilnisky (Working Paper No. 650, 1992) and Chichilnisky (Economic Theory, 1995, 5, 79-108), I introduced the concept of a global cone and used it to define a condition on endowments and preferences, 'limited arbitrage', which 1 showed to be necessary and sufficient for the existence of a competitive equilibrium. In response to a comment (Monteiro et al., Journal of Mathematical Economics, 1997, 26, 000-000), I show here that the authors misunderstood my results by focusing on brief announcements which cover other areas, social choice (Chichilnisky, American Economic Review, 1994, 427-434 and algebraic topology (Chichilnisky, Bulletin of the American Mathematical Society, 1993, 29, 189-207), rather than on the publication which contains my proofs on equilibrium. The comment's example is irrelevant to my results in Chichilnisky (Economic Theory, 1995, 5, 79-108) because it starts from different conditions. Limited arbitrage is always necessary and sufficient for the existence of a competitive equilibrium, with or without short sales, with the global cones as I defined them, and exactly as proved in Chichilnisky (Economic Theory, 1995. 5, 79-108).
Author : Graciela Chichilnisky
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Limited Arbitrage is Necessary and Sufficient for the Existence of a Competitive Equilibrium written by Graciela Chichilnisky and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Chichilnisky (Working Paper N0. 586, 1991), Chichilnisky (Working Paper No. 650, 1992) and Chichilnisky (Economic Theory, 1995, 5, 79-108), I introduced the concept of a global cone and used it to define a condition on endowments and preferences, 'limited arbitrage', which I showed to be necessary and sufhcient for the existence of a competitive equilibrium. In response to a comment (Monteiro et al., Journal of Mathematical Economics, 1997. 26, 000-000), I show here that the authors misunderstood my results by focussing on brief announcements which cover other areas, social choice (Chichilnisky, American Economic Review, 1994, 427-434 and algebraic topology (Chichilnisky, Bulletin of the American Mathematical Society, 1993, 29, 189-207), rather than on the publication which contains my proofs on equilibrium. The comment's example is irrelevant to my results in Chichilnisky (Economic Theory. 1995, 5, 79- 108) because it starts from different conditions. Limited arbitrage is always necessary and sufficient for the existence of a competitive equilibrium, with or without short sales, with the global cones as I defined them. and exactly as proved in Chichilnisky (Economic Theory, 1995, 5, 79-108).
Author : Graciela Chichilnisky
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.:/5 ( download)
Download or read book A Unified Perspective on Resource Allocation written by Graciela Chichilnisky and published by . This book was released on 1995 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Wilhelmus Johannes Leonardus Jozef Spanjers
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (658 download)
Download or read book Arbitrage and Walrasian Equilibrium in Economies with Limited Information written by Wilhelmus Johannes Leonardus Jozef Spanjers and published by . This book was released on 1991 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Geoffrey Heal
Publisher : Springer Science & Business Media
ISBN 13 : 3642608914
Total Pages : 216 pages
Book Rating : 4.6/5 (426 download)
Download or read book Topological Social Choice written by Geoffrey Heal and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The origins of this volume can be traced back to a conference on "Ethics, Economic and Business" organized by Columbia Busi ness School in March of 1993, and held in the splendid facilities of Columbia's Casa Italiana. Preliminary versions of several of the papers were presented at that meeting. In July 1994 the Fields Institute of Mathematical Sciences sponsored a workshop on "Geometry, Topology and Markets": additional papers and more refined versions of the original papers were presented there. They were published in their present versions in Social Choice and Wel fare, volume 14, number 2, 1997. The common aim of these workshops and this volume is to crystallize research in an area which has emerged rapidly in the last fifteen years, the area of topological approaches to social choice and the theory of games. The area is attracting increasing interest from social choice theorists, game theorists, mathematical econ omists and mathematicians, yet there is no authoritative collection of papers in the area. Nor is there any surveyor book to give a perspective and act as a guide to the issues in and contributions to this new area. One of the two aims of this volume is in some measure to play this role: the other aim is of course to present interesting and surprising new results.
Author : Graciela Chichilnisky
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Limited Arbitrage is Necessary and Sufficient for the Existence of a Competitive Equilibrium With Or Without Short Sales written by Graciela Chichilnisky and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A condition of limited arbitrage is defined on the endowments and the preferences of the traders in an Arrow-Debreu economy. Theorem 1 establishes that limited arbitrage is necessary and sufficient for the existence of the competitive equilibrium in markets with or without short sales. Limited arbitrage bounds utility arbitrages. the diversity of the traders in the economy, and the gains from trade which they can afford from initial endowments (Proposition 2); it is related to but nonetheless different from the no-arbitrage condition used in finance. Theorem 2 establishes that an Arrow-Debreu economy has a competitive equilibrium if and only if every one of its subeconomies with N I traders does, where N is the number of commodities. Limited arbitrage has been shown elsewhere to be equivalent to the existence of the core [16], to the contractibility of spaces of preferences and to the existence of continuous anonymous social choice rules which respect unanimity.
Author : Kotaro Suzumura
Publisher : Springer
ISBN 13 : 1349258490
Total Pages : 226 pages
Book Rating : 4.3/5 (492 download)
Download or read book Social Choice Re-examined written by Kotaro Suzumura and published by Springer. This book was released on 1997-10-13 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since World War II the subject of social choice has grown in many and surprising ways. The impossibility theorems have suggested many directions: mathematical characterisations of voting structures satisfying various sets of conditions, the consequences of restricting choice to certain domaines, the relation to competitive equilibrium and the core, and trade-offs among the partial satisfactions of some conditions. The links with classical and modern theories of justice and, in particular, the competing ideas of rights and utilitarianism have shown the power of formal social choice analysis in illuminating the most basic philosophical arguments about the good social life. Finally, the ideals of the just society meet with the play of self interest; social choice mechanisms can lend themselves to manipulation, and the analysis of conditions under which given ideals can be realised under self interest is a political parallel to the welfare economics of the market. The contributors to these volumes focus on these issues at the forefront of current research.
Author : Graciela Chichilnisky
Publisher :
ISBN 13 :
Total Pages : 576 pages
Book Rating : 4.F/5 ( download)
Download or read book Mathematical Economics written by Graciela Chichilnisky and published by . This book was released on 1998 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 644 pages
Book Rating : 4.:/5 (334 download)
Download or read book Contents of Recent Economics Journals written by and published by . This book was released on 1997-12-19 with total page 644 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : G. M. Heal
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 ( download)
Download or read book National Income and the Environment written by G. M. Heal and published by . This book was released on 1998 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : G. M. Heal
Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.:/5 ( download)
Download or read book Markets and Sustainability written by G. M. Heal and published by . This book was released on 1998 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mark Nathan Broadie
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 ( download)
Download or read book A Stochastic Mesh Method for Pricing High-dimensional American Options written by Mark Nathan Broadie and published by . This book was released on 1997 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Lance Taylor
Publisher : Routledge
ISBN 13 : 1136270876
Total Pages : 427 pages
Book Rating : 4.1/5 (362 download)
Download or read book Social Fairness and Economics written by Lance Taylor and published by Routledge. This book was released on 2013-02-11 with total page 427 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together papers inspired by the work of Duncan Foley, an extraordinarily productive economist who has made seminal contributions to a wide variety of areas. Foley’s work cannot be easily classified, but one thread that runs through it is a critical examination (along both ethical and analytical lines) of conventional neoclassical economic theory, particularly involving general equilibrium theories of value and money. Foley was a pioneer of complexity economics as well, which adopts approaches to these questions drawn from natural sciences, so the collection therefore has an interdisciplinary quality that will interest a wide variety of readers. Some of the chapters are intellectual biographies that contextualize and identify Foley’s contributions to Keynesian macroeconomics, Marxian value theory, and complexity theory in economics. The topics covered include the economics of complexity; the ethics of general equilibrium theory; the economics of climate change; applications of Keynesian, Marxian and Ricardian political economy; and money and financial crises. The collection should be useful to scholars who work in various economic traditions critical of the currently dominant free-market approach, but it also speaks to scholars of critical theory in various disciplines beyond economics such as the mathematicians, physicists, and other natural scientists who are interested in understanding the complexity of social processes using their analytical frameworks. This book should also appeal to graduate students in economics who are working in these traditions, as well as scholars (including current graduate students in orthodox programs) who are dissatisfied with the current state of economic theory and would like to satisfy their intellectual curiosity by sampling the contributions of critical theorists.
Author : Graciela Chichilnisky
Publisher : American Mathematical Soc.
ISBN 13 : 0821810715
Total Pages : 124 pages
Book Rating : 4.8/5 (218 download)
Download or read book Topology and Markets written by Graciela Chichilnisky and published by American Mathematical Soc.. This book was released on 1998 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents the proceedings of a workshop on geometry, topology, and markets held at The Fields Institute. The workshop was attended by eminent mathematicians and financial and economic theorists. Using a topological approach, the volume discusses new mathematics and its applications to social sciences and financial markets. Topics addressed at the workshop included new topological invariants for existence, characterization and computation of market equilibria and their relation to social choice and to other forms of resource allocation, competitive and co-operative systems, algebraic geometry and markets with increasing returns, computational complexity, and stochastic processes and financial markets.
Author : Graciela Chichilnisky
Publisher : Springer
ISBN 13 : 3319319434
Total Pages : 640 pages
Book Rating : 4.3/5 (193 download)
Download or read book The Economics of the Global Environment written by Graciela Chichilnisky and published by Springer. This book was released on 2017-05-18 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book combining research on the Global Environment, Catastrophic Risks and Economic Theory and Policy. Modern economic theory originated in the middle of the twentieth century when industrial expansion coupled with population growth led to a voracious use of natural resources and global environmental concerns. It is uncontested that, for the first time in recorded history, humans dominate the planet, changing the planet's atmosphere, its bodies of water, and the complex web of species that makes life on earth. This radical change in circumstances led to rethinking of the foundations of human organization and, in particular, the industrial economy and the economic theory behind it. This book brings together new approaches on multiple levels: environmental sustainability requires rethinking in terms of economic theory and policy as well as the considerations of catastrophic risk and extremal events. Leading experts address questions of economic governance, risk management, policy decision making and distribution across time and space.
