CONSTRUCTING EXAMPLES WITH 5 EQUILIBRIA FOR SYMMETRIC 3×2 CES /LES PURE EXCHANGE ECONOMIES  

作　　者：黄慧 石晓军 张顺明 

机构地区：[1]Faculty of Business,University of Regina,Regina,Saskatchewan,S4S 0A2,Canada [2]China Financial Policy Research Center,Renmin University of China

出　　处：《Acta Mathematica Scientia》2012年第6期2411-2430,共20页数学物理学报（B辑英文版）

基　　金：supported by National Natural Science Foundation of China(70825003 and 70972001);National Social Science Foundation of China(07AJL002);Arts and Humanities Program of Essential Research Foundation of Beihang University(YWF-11-06-007)

摘　　要：This paper explores the existence of multiple equilibria for symmetric 3 indi- vidual, 2 good CES / LES pure exchange economies. Analytically, we show that there are no more than 5 equilibria in such economies. The number of equilibria varies from 5 to 3 then to 1. We generalize our analytical results of existence of 1, 3, 5 equilibria for a wide range of parametrizations. We also provide concrete examples of 1, 3, 5 equilibria with parameter zones specified.This paper explores the existence of multiple equilibria for symmetric 3 indi- vidual, 2 good CES / LES pure exchange economies. Analytically, we show that there are no more than 5 equilibria in such economies. The number of equilibria varies from 5 to 3 then to 1. We generalize our analytical results of existence of 1, 3, 5 equilibria for a wide range of parametrizations. We also provide concrete examples of 1, 3, 5 equilibria with parameter zones specified.

关 键 词：multiple equilibria CES / LES utility function 

分 类 号：F019.1[经济管理—政治经济学]