This paper explores the existence of multiple equilibria for symmetric 3 individual,2 good CES /LES pure exchange economies.Analytically,we show that there are no more than 5 equilibria in such economies.The number of equilibria varies from 5 to 3 then to 1.We generalize our analytical results of existence of 1,3,5 equilibria for a wide range of parametrizations.We also provide concrete examples of 1,3,5 equilibria with parameter zones specified.
This paper explores the existence of 3 equilibria for symmetric 2-individual 2-good CES/LES pure exchange economies. For certain parameterizations in the economies, we show analytically that there are no more than 3 equilibria. We generalize our analytical results of existence of 3 equilibria for a wide range of parameterizations. Then we provide examples of 3 equilibria and parameter zones of 3 equilibria for CES and CES/LES economies.
