The existence of equilibrium when excess demand obeys the weak axiom
AbstractThis paper gives a non-fixed point theoretic proof of equilibrium existence when the excess demand function of an exchange economy obeys the weak axiom. The proof is simple and geometrically intuitive, and it also permits a weakening of the continuity assumption on the excess demand function. (This paper is a more developed and (one hopes) improved version of an earlier working paper called An Elementary Equilibrium Existence Theorem, Working Paper W6 (2000), Nuffield College, Oxford.)
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Mathematical Economics.
Volume (Year): 44 (2008)
Issue (Month): 3-4 (February)
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Web page: http://www.elsevier.com/locate/jmateco
Other versions of this item:
- John Quah, 2004. "The existence of equilibrium when excess demand obeys the weak axiom," Economics Series Working Papers 2004-W07, University of Oxford, Department of Economics.
- John K.-H. Quah, 2004. "The existence of equilibrium when excess demand obeys the weak axiom," Economics Papers 2004-W07, Economics Group, Nuffield College, University of Oxford.
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
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