A Topological Invariant for Competitive Markets

Graciela Chichilnisky
I summarize and extend my results establishing that limited arbitrage is necessary and sufficient for the existence of a competitive equilibrium and for the compactness of the Pareto frontier [11] (announced in [14] and [8]). In response to a comment [36], I show that the authors misunderstood my results by focusing on brief announcements [14] and [8] which did not detail the hypothesis, rather than on the publication which contains the proofs [11]. The original...
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