Title

Solving Systems of Simultaneous Equations in Economics

Document Type

Discussion Paper

Publication Date

10-1-1989

CFDP Number

902

CFDP Pages

31

Abstract

We show that there is a broad range of systems of simultaneous equations that arise in economics as descriptions of equilibrium that can be solved in elementary fashion via degree theory. Some of these systems are not susceptible to analysis by standard Brouwer fixed point methods. Two of our applications are to general equilibrium with incomplete markets, and to nonconvex production with noncompetitive pricing rules.

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