Incomplete markets. Radner’s existence theorem. Generic existence. Indeterminacy of equilibria. General equilibrium with an infinite number of goods. Bewley’s theorem. The property of preferences. Equilibria on Banach lattices. Mas-Colell theorem. Equilibrium in finance: separable utilities. Other general equilibrium topics. The differential approach. Local uniqueness. Aggregation theorems. Sonnenschein-Mantel-Debreu theorem.
References:
BEWLEY, T. – Existence of Equilibria in Economies with Infinitely Many Commodities, Journal of Economic Theory 4, 1972.
DEBREU, G. – Mathematical Economics, Twenty papers of Gerard Debreu, Econometric Society Monographs 4, Cambridge University Press, 1989.
MAGILL, M., SHAFER, W. – Incomplete Markets – Chapter 30, Handbook of Mathematical Economics, Vol. IV, ed. Hildenbrand and Sonnenschein. North Holland, Amsterdam, 1991.
MAS-COLELL, A., ZAME, W. – Equilibrium Theory in Infinite Dimensional Spaces, in: Handbook of Mathematical Economics vol. IV, ed. W. Hildenbrand and H. Sonneschein, North Holland, Amsterdam, 1991.
* Basic syllabus. The teacher has the autonomy to make any changes.