Edgeworth Box Economies with Multiple Equilibria

Published in Economic Theory Bulletin, 2017

Kieran and I got interested in equilibrium uniqueness while working on Toda & Walsh (2020), which we started the project in 2013. In February 2016, I constructed an Edgeworth box economy with CRRA utilities that admit multiple equilibria, which I assigned as a problem set in the first year micro sequence at UCSD. We then expanded this example to many other situations and wrote a paper. We initially submitted this paper to Economic Theory and got a desk-rejection, but the editor transferred the paper to Economic Theory Bulletin and the associate editor there accepted the paper as is, so it was an extremely quick and painless process. It essentially took one week from drafting the paper to acceptance.

Multiple equilibria

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