MARC Record from marc_columbia

LEADER: 03384fam a22003614a 4500
001 3361592
005 20221020053058.0
008 020801t20022002maua b 001 0 eng
010 $a 2002030116
020 $a1402072015 (acid-free paper)
035 $a(OCoLC)50333936
035 $a(OCoLC)ocm50333936
035 $9AVC0630CU
035 $a(NNC)3361592
035 $a3361592
040 $aDLC$cDLC$dDLC$dOrLoB-B
042 $apcc
050 00 $aHB145$b.D54 2002
082 00 $a330/.01/51472$221
245 00 $aDifferential topology and general equilibrium with complete and incomplete markets /$cby Antonio Villanacci [and others].
260 $aBoston :$bKluwer Academic Publishers,$c[2002], ©2002.
300 $axxxi, 473 pages :$billustrations ;$c25 cm
336 $atext$btxt$2rdacontent
337 $aunmediated$bn$2rdamedia
504 $aIncludes bibliographical references (p. 461-468) and index.
505 00 $g1.$tPrerequisites --$g2.$tManifolds in Euclidean Spaces --$g3.$tDifferentials --$g4.$tRegular Values --$g5.$tManifolds with Boundary --$g6.$tSard's Theorem and Transversality --$g7.$tHomotopy and Degree Theory --$g8.$tExchange Economies --$g9.$tProduction Economies --$g10.$tTime, Uncertainty and Incomplete Markets --$g11.$tNumeraire Assets --$g12.$tNominal Assets --$g13.$tReal Assets --$g14.$tRestricted Participation --$g15.$tPlanner Intervention on the Market Outcome.
520 1 $a"The goal of this publication is to provide basic tools of differential topology to study systems of nonlinear equations, and to apply them to the analysis of general equilibrium models with complete and incomplete markets. The main content of general equilibrium analysis is to study existence, (local) uniqueness and efficiency of equilibria. To study existence Differential Topology and General Equilibrium with Complete and Incomplete Markets combines two features.
520 8 $aFirst, order conditions (of agents' maximization problems) and market clearing conditions, instead of aggregate excess demand functions. Then the application to that "extended system" of a homotopy argument, which is stated and proved in a relatively elementary manner. Local uniqueness and smooth dependence of the endogenous variables from the exogenous ones are studied using a version of a so-called parametric transversality theorem. In a standard general equilibrium model, all equilibria are efficient, but that is not the case if some imperfection, like incomplete markets, asymmetric information, strategic interaction, is added.
520 8 $aThen, for almost all economies, equilibria are inefficient, and an outside institution can Pareto improve upon the market outcome. Those results are proved showing that a well-chosen system of equations has no solutions." "The target audience of Differential Topology and General Equilibrium with Complete and Incomplete Markets consists of researchers interested in economic theory. The needed background is multivariate analysis, basic linear algebra and basic general topology."--BOOK JACKET.
650 0 $aEquilibrium (Economics)$xMathematical models.$0http://id.loc.gov/authorities/subjects/sh2008102574
650 0 $aUncertainty$xMathematical models.$0http://id.loc.gov/authorities/subjects/sh2008113073
700 1 $aVillanacci, Antonio.$0http://id.loc.gov/authorities/names/n2002158889
852 00 $boff,bus$hHB145$i.D54 2002