Direct perturbations of aggregate excess demand
AbstractWe 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.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Mathematical Economics.
Volume (Year): 46 (2010)
Issue (Month): 4 (July)
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Web page: http://www.elsevier.com/locate/jmateco
Arrow-Debreu Aggregate excess demand Genericity Determinacy Transversality General equilibrium Sonnenschein-Mantel-Debreu;
Other versions of this item:
- Sofia B. S. D. Castro & Sami Dakhlia & Peter B. Gothen, 2008. "Direct perturbations of aggregate excess demand," Post-Print halshs-00306408, HAL.
- Sofia B. S. D. Castro & Sami Dakhlia & Peter B. Gothen, 2008. "Direct perturbations of aggregate excess demand," Documents de travail du Centre d'Economie de la Sorbonne b08045, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- 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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