Adv. Math. Econ. Volume 2, pp.119-135 (2000)
Fixed point theorems and the existence of economic equilibria based on conditions for local directions of mappings
Akira Yamazaki
Graduate School of Economics, Hitotsubashi University, Kunitachi, Tokyo, 186-8601, Japan
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A mathematical model of a directed graph with stochastic transfers is
presented. It will be used to analyze the optimality (or "competitiveness" ) properties of
a network of transactions involving risky transfers of assets in an economic
system. These properties are discussed in a model with some specific directed graph
structures which result in a decompositon of the graph into parts with "narrow"
linkage.
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stochastic transfer, network economy, directed graph, efficinecy, competitiveness
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