Martin-Luther-Universität Halle-Wittenberg


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16. November 2021

Jacobo Pejsachowicz (Politecnico di Torino)

Economical crisis and branching

Abstract: Arrow-Debreu model of an Exchange Market is a mathematical approach to Walras theory of Competitive Equilibria based on Global Analysis and Differential Topology. Balasko and his followers, related the critical Walras equilibria of this model to economical crises, considered from the mathematical viewpoint as a discontinuity of the associated equilibrium price. My aim is to show that Balasko’s ideas can be improved using the concept of intrinsic derivative and the relationship between branching and bifurcation from a trivial branh.

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