A topological invariant for competitive markets

Article Abstract:

Limited arbitrage is simultaneously needed for the presence of a competitive equilibrium in economies, with or without short sales. The study, which defined social diversity and topological invariant, has shown that when limited arbitrage fails, every quasiequilibrium has a failure of 'effective' demand. The study also shows the importance of social diversity so markets can be useful and the role of diversity in resource allocation.

Consumer Behavior

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Limited arbitrage is necessary and sufficient for the existence of an equilibrium

Article Abstract:

Limited arbitrage is always essential and adequate for the presence of a competitive equilibrium, with or without short sales, and with the global cones. Limited arbitrage refers to an opportunity for an agent to increase utility more than the level related with any given vector in his consumption set. The theory secures trades and utility to gain competitive equilibrium.

Evaluation, Resource allocation

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General equilibrium with endogenous uncertainty and default

Article Abstract:

A general equilibrium for analyzing uncertainty in new asset evaluation is presented.

United States, China, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Asset Valuation & Distribution, Asset valuation

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