201Fall99Exam

201Fall99Exam - University of California Berkeley Economics...

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Unformatted text preview: University of California, Berkeley Economics 201A Fall 1999 Final Examination Instructions: You have three hours to do this examination. The exam is out of a total of 300 points; allocate your time accordingly. 1. (60 points) Define or state and briefly discuss the importance of each of the following within or for economic theory: (a) the Transversality Theorem (b) Minkowski’s Theorem on the existence of separating hyperplanes (c) the Shapley-Folkman Theorem on Sums of Sets (d) Dierker’s theorem asserting that typically, exchange economies have an odd number of equilibria (e) the Debreu-Gale-Kuhn-Nikaido Lemma concerning the existence of solutions of equations of the form z ( p ) = 0 (f) the Overlapping Generations Model 2. (60 points) Consider an exchange economy with convex, strongly mono- tone, and continuous preferences. Suppose x is a Pareto optimal allo- cation. Let B i = { y i − x i : y i i x i } Show that there exists p > 0 (i.e. p ` ≥ 0 for each ` and p 6 = 0) such that inf...
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This note was uploaded on 08/01/2008 for the course ECON 201B taught by Professor Anderson during the Spring '06 term at Berkeley.

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201Fall99Exam - University of California Berkeley Economics...

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