Abstract
Global analysis in economics puts the main results of classical equilibrium theory into a global calculus context. The advantages of this approach are: (a) the proofs of existence of equilibrium are simpler (the main tool is the calculus of several variables); (b) comparative statics is integrated into the model in a natural way; (c) the calculus approach is closer to the older traditions of the subject; and (d) as far as possible the proofs of equilibrium are constructive.
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Mas-Colell, A. 1985. The theory of general economic equilibrium: A differentiable approach. Cambridge: Cambridge University Press.
Smale, S. 1981. Global analysis and economics. In Handbook of mathematical economics, ed. K.J. Arrow and M.D. Intriligator, vol. 1. Amsterdam: North-Holland.
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Smale, S. (2018). Global Analysis in Economic Theory. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1005
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DOI: https://doi.org/10.1057/978-1-349-95189-5_1005
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