Manifolds of Preferences and Equilibria
Graciela Chichilnisky
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Local and global properties of spaces of preferences are studied, with applications to general equilibrium, utility and demand analysis. Spaces of smooth, not necessarily convex or increasing preferences are proven to be representable as differentiable Hilbert manifolds. These structures of spaces of preferences are then used to extend results on the regularity of equilibria to economies where the agents are described by their preferences and endowments. Subspaces of preferences which give foliations of the commodity space and also subspaces of convex and increasing smooth preferences are shown to be submanifolds. Topological properties of these manifolds, and local and global properties of the demands and the utilities of the agents in relation to the underlying preferences are also studied. (Author).
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