Seminar Abstract

【Homotopy and Index in Incomplete Markets】

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Speaker:  茂見 岳史

Affiliation:  東京大学大学院経済学研究科

Date and Time: 2002. (Thu), 4:30 - 6:00 p.m.

Place: 3F1136

Chair: 江口 匡太
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Abstract: 

The purpose of this paper is to prove the index theorem in incomplete 
market economies. We show that generically in endowments and the asset 
structure the sum of the indices of the equilibria is +1 provided the 
deficiency of markets, S-J, is even. Our approach also gives an 
insight in the case where S-J is odd in which case the index theorem 
does not seem to hold. The result is based on the indicies of 
homotopies which have been presented for the computation of 
equilibrium in incomplete market economies.