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General equilibrium without utility functions: how far to go?

机译:没有效用函数的一般均衡:还有多远?

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How far can we go in weakening the assumptions of the general equilibrium model? Existence of equilibrium, structural stability and finiteness of equilibria of regular economies, genericity of regular economies and an index formula for the equilibria of regular economies have been known not to require transitivity and completeness of consumers’ preferences. We show in this paper that if consumers’ non-ordered preferences satisfy a mild version of convexity already considered in the literature, then the following properties are also satisfied: (1) the smooth manifold structure and the diffeomorphism of the equilibrium manifold with a Euclidean space; (2) the diffeomorphism of the set of no-trade equilibria with a Euclidean space; (3) the openness and genericity of the set of regular equilibria as a subset of the equilibrium manifold; (4) for small trade vectors, the uniqueness, regularity and stability of equilibrium for two version of tatonnement; (5) the pathconnectedness of the sets of stable equilibria.
机译:我们在弱化一般均衡模型的假设上能走多远?众所周知,均衡,均衡经济的结​​构稳定性和均衡性的存在,正常经济的普遍性以及正常经济均衡的指数公式都不需要消费者的传递性和完整性。我们在本文中证明,如果消费者的无序偏好满足文献中已经考虑的温和凸性,那么还可以满足以下特性:(1)光滑流形结构和带有欧几里得的平衡流形的微分空间; (2)具有欧几里德空间的无贸易平衡集的微分; (3)作为平衡流形子集的正则均衡集的开放性和通用性; (4)对于小贸易载体,两个版本的重金属的平衡性的唯一性,规律性和稳定性; (5)稳定均衡集的路径连通性。

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