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Published in:
1995 | OriginalPaper | Chapter
Comparative Statics and Algorithms for Finding Economic Equilibria
Author : Steve Smale
Published in: Nonlinear and Convex Analysis in Economic Theory
Publisher: Springer Berlin Heidelberg
Included in: Professional Book Archive
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Consider an excess demand function Z : ℝ+l → ℝl, p → Z(p), where ℝ+l is the set of price vectors p = (pl,..., pl), p i ≥ 0 and the value of Z are taken in commodity space ℝl. For example, Z = D − S, demand less supply, and D, S are derived from a microeconomical setting. This is the approach in [Smale], where some background for this note may be found.