On the boundary behavior of the excess demand function
AbstractI revisit thoroughly the standard boundary behavior satisfied by the excess demand function of a competitive economy, and I prove two implications of the boundary behavior. Then, I show that these implications lead to an alternative proof of the existence of competitive equilibria which is instructive, shorter and perhaps easier than the available proofs in the literature.
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Bibliographic InfoArticle provided by Elsevier in its journal Research in Economics.
Volume (Year): 66 (2012)
Issue (Month): 4 ()
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Web page: http://www.elsevier.com/locate/inca/622941
Excess demand function; Boundary behavior; Competitive equilibrium; Correspondences; Maximal elements;
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