Regular Equilibria. A First Approach

  • Egbert Dierker
Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 92)

Abstract

In this section we consider equilibria of gradient fields only. An equilibrium of v = grad f is a point x where Txf = o, i.e. a critical point of f. A mapping may have many critical points, but according to Sard’s theorem it has only few critical values if it is smooth enough. We shall need and prove Sard’s theorem only in a simple special case. An application then yields that excess demand, if it is a gradient field, has “in general” only regular and therefore isolated equilibria.

Keywords

Manifold Topo 

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Copyright information

© Springer-Verlag Berlin · Heidelberg 1974

Authors and Affiliations

  • Egbert Dierker
    • 1
  1. 1.Wirtschaftstheoretische AbteilungInst, für Gesellschafts- und WirtschaftswissenschaftenBonnGermany

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