Abstract
This paper reports numerical examples for a 3 individual 2 good CES/LES pure exchange economy in which 5 equilibria exist. We explore the size of the regions of the parameter space for which 5 equilibria persist, and show these ranges to be very small in each parameter. Other features of the equilibrium manifolds are examined. The number of equilibria can jump from 5 to 3 to 1, or even from 5 to 1. We also find changes of (Kehoe) equilibrium indices from -1 to +1 or from +1 to -1. Then, we provide parameter changes simultaneously in a large range that preserve given 5 equilibria.
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More From: International Journal of Information Technology & Decision Making
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