It is well known that in dynamic general equilibrium economic models equilibrium may be indeterminate. Indeterminacy means that there is a continuum of equilibrium trajectories converging to the same steady state. Very often, the same mechanisms that are responsible for indeterminacy, like increasing returns to scale or market imperfections, lead to existence of multiple steady states, and deve...

This paper presents a consistent theory for describing indeterminacy and uncertainty of three-dimensional (3-D) reconstruction from a sequence of images. First, we give a group-theoretical analysis of gauges and gauge transformations. We then discuss how to evaluate the reliability of the solution that has indeterminacy and extend the CramerRao lower bound to incorporate internal indeterminacy....

This paper analyzes an incomplete ...nancial markets model with pricetaking utility-maximizing ...nancial innovators and no-short sales restrictions. It is shown that, given the indeterminacy of the no arbitrage price conjecture of innovators, ...nancial markets can remain incomplete in equilibrium. As a consequence, real indeterminacy of degree at least equal to int (S/2)(S(S/2)) results, wher...

The aim of the present paper is to analyze the link between price rigidity and indeterminacy. This is done within a cash-in-advance economy from which we know that it exhibits indeterminacy at high degrees of relative risk aversion. I Þnd that price stickiness reduces the scope of these sunspot equilibria: sluggish price adjustment requires degrees of relative risk aversion compatible with inde...