Showing papers in "Journal of Mathematical Economics in 1979"

TL;DR: In this paper, the authors employ the theory of integration of correspondences (set-valued functions) to answer the question raised by Hildenbrand and Mertens (1971).

TL;DR: In this article, it has been brought to our attention that the proof of the equilibrium theorem in Gale and Mas-Cole11 (1975) has two gaps: the particular bound used to truncate consumption sets may be too small to guarantee the non-empty valuedness of the modified budget sets defined at the bottom of page 13, and the augmented preference mappings may not have an open graph.

TL;DR: In this article, the authors present a criterion alternative to the classical Frobenius condition for the solvability of a system of nonlinear partial differential equations (or a corresponding total differential equation) that arises in consumer choice theory.

TL;DR: In this paper, the authors established the existence of an optimal bankruptcy rule which enables them to describe the Walrasian trading economy as a game with trade in fiat money, and the non-cooperative equilibrium points of this game which (in terms of prices and the final allocation yielded) include the competitive equilibrium points, when the bankruptcy rule is different from optimal.

TL;DR: In this article, a geometric approach based on intersecting suitable manifolds and affine spaces embedded in some Euclidean space is presented to deal with singular economies and related subjects.

TL;DR: In this article, the authors propose continuous functions whose fixed points are equilibria in economies whose production is modelled by a finite list of activities, and generalize to allow ad valorem taxes on production.

TL;DR: The existence of a competitive equilibrium for an economy with a measure space of agents is proved by reducing the economy to a three-person game and then applying Debreu's lemma (1952).

TL;DR: In this paper, the authors established a complete characterization of inefficient programs in an aggregative model of economic growth and showed that a feasible program, satisfying a smoothness condition, is inefficient if and only if: (a) the sequence of the value of input is bounded away from zero, and (b) the ratio of the share of the primary factor in output to input deteriorates too fast.

TL;DR: The necessary conditions for a social choice function to be coalitionally strategy-proof are provided by using a main theorem of Nakamura (1975b), when the set of individuals is any non-empty set as discussed by the authors.

TL;DR: A further generalization of the Samuelson-Solow's results for the Frobenius theorem is presented in this paper, where the existence of a semi-positive vector x with a non-negative scalar λ for an equation F ( x ; λ ) = 0, where F is a vector function from R n into itself with the parameter value λ.

TL;DR: In this article, the authors studied dynamical processes of money-mediated exchange and price adjustment in a pure exchange economy of durables and proved that their processes converge to price equilibria under strong classical assumptions on preferences and fairly mild behavioral assumptions.

TL;DR: In this paper, an elementary proof of Y Balasko's theorem that the equilibrium manifold is diffeomorphic to Rlm was given for the case (l,m)=(2,2), which the original proof does not cover.

TL;DR: In this paper, it was shown that demand is n−1 times differentiable almost everywhere if utility is analytic and demand is analytic almost everywhere and also satisfies condition (N) when utility is not analytic.

TL;DR: In this article, the authors studied how the expectation functions which are used to build these forecasts can be formed and revised along time, according to different hypothesis on available information and behaviour, and conditions are given for convergence of expectations and prices, separately or together, to the stationary values of the model.

TL;DR: In this article, existence theorems for solutions of multivalued differential equations whose trajectories remain in a subset defined by scarcity constraints are shown to be monotone with respect to a preordering.

TL;DR: In this article, it was shown that the set of economies with only regular competitive equilibria, with respect to the strong Whitney-topology, is open and dense in all economies.

TL;DR: In this paper, the complexity of the attainable set of utility outcomes of a market (with finitely many traders) is defined as the least number of commodities involved in any market giving the same set.

TL;DR: In this article, the authors discuss the two presentations available in the literature for infinite games and compare the level of generality of their respective solution-existence theorems, and compare their respective solutions.

TL;DR: For a simple Leontief technology, the results of finite-horizon turnpike theorems are extended to the case of infinite horizon in this paper, and qualitative information about the set of efficient programs is obtained.

TL;DR: In this article, the problem of determining when an infinite player game can be partitioned into countably many stable coalitions is investigated, and several positive results are presented, including a theorem and a counterexample for countable player games.