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Direct perturbations of aggregate excess demand

Author

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  • Castro, Sofia B.S.D.
  • Dakhlia, Sami
  • Gothen, Peter B.

Abstract

We complement the Sonnenschein-Mantel-Debreu results by establishing that an exchange economy, i.e., preferences and endowments, that generates a given aggregate excess demand (AED) function is close to the economy that generates a perturbation of this AED. As a consequence, genericity and determinacy results obtained by direct perturbation of an AED are as strong as results obtained by perturbing preferences and endowments.

Suggested Citation

  • Castro, Sofia B.S.D. & Dakhlia, Sami & Gothen, Peter B., 2010. "Direct perturbations of aggregate excess demand," Journal of Mathematical Economics, Elsevier, vol. 46(4), pages 562-571, July.
    • Handle: RePEc:eee:mateco:v:46:y:2010:i:4:p:562-571
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    References listed on IDEAS

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    Cited by:

    1. Gorokhovsky, Alexander & Rubinchik, Anna, 2022. "Necessary and sufficient conditions for determinacy of asymptotically stationary equilibria in OLG models," Journal of Economic Theory, Elsevier, vol. 204(C).
    2. Castro, Sofia B.S.D. & Dakhlia, Sami & Gothen, Peter B., 2013. "From singularity theory to finiteness of Walrasian equilibria," Mathematical Social Sciences, Elsevier, vol. 66(2), pages 169-175.

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    More about this item

    Keywords

    Arrow-Debreu Aggregate excess demand Genericity Determinacy Transversality General equilibrium Sonnenschein-Mantel-Debreu;

    JEL classification:

    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics

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