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The natural projection approach to production and uncertainty
| Content Provider | EconStor |
|---|---|
| Author | Stiefenhofer, Pascal |
| Abstract | The paper generalizes the natural projection approach introduced by Balasko (1988) for the study of the qualitative equilibrium structure of exchange economies to a two period private ownership production model with uncertainty. It shows that long run equilibrium properties of the production model are those of the pure exchange economy with production adjusted demand functions. Associated with every long run equilibrium there exist a finite, odd number of short run equilibria. |
| File Format | |
| Language | English |
| Publisher | Kiel Institute for the World Economy (IfW) |
| Publisher Date | 2011-01-01 |
| Publisher Place | Kiel |
| Access Restriction | Open |
| Rights License | http://creativecommons.org/licenses/by-nc/2.0/de/deed.en |
| Subject Keyword | existence of equilibrium uncertainty production Gleichgewicht Allgemeines Gleichgewicht Theorie Externalities Incomplete Markets General Equilibrium and Disequilibrium: Financial Markets |
| Content Type | Text |
| Resource Type | Article |
