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Stiefenhofer, P. (2011) Equilibrium Structure of Production Economies with Uncertainty: The Natural Projection Approach. Discussion Papers in Economics, University of York, York, 7.

has been cited by the following article:

• TITLE: Topological Properties of the Catastrophe Map of a General Equilibrium Production Model with Uncertain States of Nature

  AUTHORS: Pascal Stiefenhofer

  KEYWORDS: Differential Topology, General Equilibrium, Uncertainty, Production

  JOURNAL NAME: Applied Mathematics, Vol.5 No.17, October 23, 2014

  ABSTRACT: This paper shows existence and efficiency of equilibria of a production model with uncertainty, where production is modeled in the demand function of the consumer. Existence and efficiency of equilibria are a direct consequence of the catastrophe map being smooth and proper. Topological properties of the equilibrium set are studied. It is shown that the equilibrium set has the structure of a smooth submanifold of the Euclidean space which is diffeomorphic to the sphere implying connectedness, simple connectedness, and contractibility. The set of economies with discontinuous price systems is shown to be of Lebesgue measure zero.