Fixed Points in Grassmannians with Applications to Economic Equilibrium

Publikation: Bidrag til tidsskriftTidsskriftartikelForskningfagfællebedømt

In some applications of equilibrium theory, the fixed point involves not only a state and a value of a parameter in the dual of the state space, but also a particular subspace of the state space. Since the set of all subspaces of a finite-dimensional Euclidean space has a structure which does not allow immediate application of fixed point theorems, the problem must be reformulated using a suitable parametrization of subspaces. One such parametrization, the Plücker coordinates, is used here to prove a general equilibrium existence theorem. Applications to economic problems involving hierarchies of consumers or incomplete markets with real assets are outlined.
TidsskriftJournal of Advances in Economics and Finance
Udgave nummer1
Sider (fra-til)29-39
StatusUdgivet - 2017

ID: 178795584