Exploring multiple equilibria for symmetric 2 x 2 CES/LES pure exchange economies

被引：1
|
作者：
Shi Xiao-jun [1 ]
Zhang Shun-ming [2 ]
机构：
[1] Beijing Univ Aeronaut & Astronaut, Sch Econ & Management, Beijing 100191, Peoples R China
[2] Renmin Univ China, China Financial Policy Res Ctr, Beijing 100872, Peoples R China
来源：
APPLIED MATHEMATICS-A JOURNAL OF CHINESE UNIVERSITIES SERIES B | 2010年 / 25卷 / 02期
基金：
中国国家自然科学基金;
关键词：
Multiple equilibria; Cobb-Douglas utility function; CES/LES utility function;
D O I：
10.1007/s11766-010-2422-7
中图分类号：
O29 [应用数学];
学科分类号：
070104 ;
摘要：
This paper explores the existence of 3 equilibria for symmetric 2-individual 2-good CES/LES pure exchange economies. For certain parameterizations in the economies, we show analytically that there are no more than 3 equilibria. We generalize our analytical results of existence of 3 equilibria for a wide range of parameterizations. Then we provide examples of 3 equilibria and parameter zones of 3 equilibria for CES and CES/LES economies.
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页码：137 / 154
页数：18
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