Cover image for Theory of Regular Economies.
Theory of Regular Economies.
Title:
Theory of Regular Economies.
Author:
Nagata, Ryo.
ISBN:
9789812794765
Personal Author:
Physical Description:
1 online resource (235 pages)
Series:
Series on Mathematical Economics & Game Theory ; v.1

Series on Mathematical Economics & Game Theory
Contents:
Contents -- Preface -- Introduction -- Part 1 Foundations of Regular Economies -- 1. What Is a Regular Economy? -- 1.1 Mathematical Preliminaries -- 1.1.1 Manifolds and Tangent Spaces -- 1.1.2 Differentiable Maps and Their Derivatives -- 1.1.3 Regular Values -- 1.2 Economical Analysis -- 1.2.1 Basic Model -- 1.2.2 The Space of Economies -- 1.2.3 Regular Economies -- 2. Regular Economies and Genericity -- 2.1 Mathematical Preliminaries -- 2.1.1 Preimage Theorem -- 2.1.2 Lebesgue Measure Zero -- 2.1.3 Sard's Theorem -- 2.1.4 Genericity -- 2.2 Economical Analysis -- 2.2.1 Regular Economies and Genericity -- 2.2.2 Local Uniqueness of Equilibria as a Generic Property -- 2.2.3 Finiteness of Equilibria as a Generic Property -- 3. Formalization of Regular Economies -- 3.1 Mathematical Preliminaries -- 3.1.1 Fibre Bundles -- 3.1.2 Vector Bundles -- 3.1.3 Family of Maps -- 3.2 Economical Analysis -- 3.2.1 Equilibrium Manifold and Regular Economies -- 3.2.2 Local Uniqueness and Finiteness of Equilibria in the General Formalization -- 3.2.3 Dependence of Equilibria on Regular Economies in the General Formalization -- 3.2.4 Specific Characterization of Regular Economies in the General Formalization -- 4. The Number of Equilibria in Regular Economies -- 4.1 Mathematical Preliminaries -- 4.1.1 Modulo 2 Degree -- 4.1.2 Manifolds with Boundary -- 4.1.3 Homotopy -- 4.2 Economical Analysis -- 4.2.1 Existence of Equilibria -- 4.2.2 The Number of Equilibria in Regular Economies -- 5. Stability of Equilibria in Regular Economies -- 5.1 Mathematical Preliminaries -- 5.1.1 Oriented Manifolds -- 5.1.2 Degree of Smooth Maps -- 5.1.3 Vector Fields and Index -- 5.1.4 Poincare-Hopf Theorem -- 5.1.5 Stability Conditions for Dynamical Systems -- 5.2 Economical Analysis -- 5.2.1 Walrasian Adjustment Mechanism.

5.2.2 Stability of Equilibrium Prices in Regular Economies -- Part 2 Transversality and Regular Economies -- 6. Space of Utility Functions -- 6.1 Mathematical Preliminaries -- 6.1.1 Jet Spaces -- 6.1.2 Compact Open Topology -- 6.1.3 Whitney Topology -- 6.2 Economical Analysis -- 6.2.1 Utility Functions and Demand Functions -- 6.2.2 Admissible Utility Functions and the Space of Economies -- 6.2.3 Extended Equilibrium -- 7. Transversality and Regular Economies -- 7.1 Mathematical Preliminaries -- 7.1.1 Geometrical Meaning of Transversality -- 7.1.2 Transversality with Maps -- 7.1.3 Generalization of Preimage Theorem -- 7.2 Economical Analysis -- 7.2.1 Transversality and Regular Economies -- 7.2.2 Properties of Regular Economies -- 8. Transversality Theorems and Regular Economies -- 8.1 Mathematical Preliminaries -- 8.1.1 Transversality Theorem -- 8.1.2 Thorn Transversality Theorem -- 8.1.3 Some Modifications of Transversality Theorems -- 8.2 Economical Analysis -- 8.2.1 The Transversality Theorem and Regular Economies -- 8.2.2 Thom Transversality Theorem and Regular Economies -- 9. The Number of Extended Equilibria in Regular Economies -- 9.1 Mathematical Preliminaries -- 9.1.1 Modulo 2 Intersection Number -- 9.1.2 Manifolds with Boundary and Transversality -- 9.1.3 Homotopy Invariance of the Modulo 2 Intersection Number -- 9.2 Economical Analysis -- 9.2.1 The Basic Idea and Its Attendant Considerations -- 9.2.2 The Number of Extended Equilibria in Regular Economies -- Part 3 Developments of Regular Economies -- 10. Production Economy with Linear Activities -- 10.1 Mathematical Preliminaries -- 10.1.1 Local Lefschetz Number and Index of Fixed Points -- 10.1.2 Index Theorem -- 10.2 Economical Analysis -- 10.2.1 The Basic Idea -- 10.2.2 The Model of Production Economies.

10.2.3 Regular Economies with Linear Production Technology -- 10.2.4 Computation of the Index of an Equilibrium in Regular Production Economies -- 11. Incomplete Markets I -- 11.1 Mathematical Preliminaries -- 11.1.1 Grassmann Manifolds -- 11.1.2 Modulo 2 Euler Number -- 11.1.3 Some Modifications of the Modulo 2 Euler Number -- 11.2 Economical Analysis -- 11.2.1 Uncertainty and Assets -- 11.2.2 Complete and Incomplete Markets -- 11.2.3 Generic Existence of Equilibria in Economies with Incomplete Asset Markets -- 12. Incomplete Markets II -- 12.1 Welfare Problem of Incomplete Markets: Pareto Efficiency and Inefficiency of Equilibria -- 12.2 Inefficiency of Equilibria of Incomplete Markets without Concavity -- 12.3 Constrained Optimality -- Bibliography -- Index.
Abstract:
This book presents a comprehensive treatment of the theory of regular economies, which is one of the most advanced topics in modern general equilibrium theory, emphasizing the basic ideas, the tools and the important applications. Although many notions and tools of differential topology are required to understand the theory, the author chooses a minimum of them and heuristically arranges them; that is, instead of lumping together all the necessary mathematics, the author puts at the beginning of each chapter the minimum mathematics required for the economic analysis of the chapter, so that the reader will not only save much effort on the mathematics but also directly understand how successfully the mathematics is used for the economic issues. Contents: Foundations of Regular Economies: What Is a Regular Economy?; Regular Economies and Genericity; Formalization of Regular Economies; The Number of Equilibria in Regular Economies; Stability of Equilibria in Regular Economies; Transversality and Regular Economies: Space of Utility Functions; Transversality and Regular Economies; Transversality Theorems and Regular Economies; The Number of Extended Equilibria in Regular Economies; Developments of Regular Economies: Production Economy with Linear Activities; Incomplete Markets I; Incomplete Markets II. Readership: Upper level undergraduates, graduate students and researchers involved with the application of mathematics to economic analysis.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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