Arbeitspapier
The natural projection approach to production and uncertainty
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.
- Language
-
Englisch
- Bibliographic citation
-
Series: Economics Discussion Papers ; No. 2011-10
- Classification
-
Wirtschaft
Externalities
Incomplete Markets
General Equilibrium and Disequilibrium: Financial Markets
- Subject
-
existence of equilibrium
uncertainty
production
Gleichgewicht
Allgemeines Gleichgewicht
Theorie
- Event
-
Geistige Schöpfung
- (who)
-
Stiefenhofer, Pascal
- Event
-
Veröffentlichung
- (who)
-
Kiel Institute for the World Economy (IfW)
- (where)
-
Kiel
- (when)
-
2011
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Stiefenhofer, Pascal
- Kiel Institute for the World Economy (IfW)
Time of origin
- 2011
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