Abstract
In general equilibrium theory, equilibrium prices may be interpreted as those prices which coordinate the buying and selling plans of all the various agents in the economy; equivalently, they may be interpreted as the values of the commodities. Such values will only be well defined if there is only one system of coordinating prices, that is, if the equilibrium is unique. If this does not obtain then at least the set of equilibrium price systems should not be too large, that is, there should be only a finite number of equilibria.
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Allingham, M. (2018). Uniqueness of Equilibrium. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1760
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DOI: https://doi.org/10.1057/978-1-349-95189-5_1760
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