A simple proof of the existence of an equilibrium when the weak axiom holds
AbstractAn elementary proof of the existence of a competitive equilibrium is given for economies where the weak axiom holds. It is shown by an induction argument on the number of goods that the problem is reduced to the question of the existence of an equilibrium in a two-good economy.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Mathematical Economics.
Volume (Year): 45 (2009)
Issue (Month): 11 (December)
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Web page: http://www.elsevier.com/locate/jmateco
Existence of equilibrium Excess demand function Weak axiom Gross substitutes;
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