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An index formula for production economies with externalities

Abstract : We prove that the degree of the equilibrium correspondence of an economy with increasing returns and external effects is equal to (−1)L−1 where L is the dimension of the space of goods. This allows us to infer existence, finiteness and uniqueness results.
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Submitted on : Friday, October 21, 2011 - 6:07:26 PM
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Antoine Mandel. An index formula for production economies with externalities. Journal of Mathematical Economics, Elsevier, 2008, 44, pp.1385-1397. ⟨halshs-00634648⟩

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