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Implications of Microeconomic Theory for Community Excess Demand Functions

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  • Rolf R. Mantel
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    Abstract

    A series of results, related to Sonnenschein's conjecture that Walras' Law is the only significant restriction microeconomic theory imposes on community demand and excess demand functions are surveyed and extended. These results have important implications for general equilibrium theory, both in questions of existence and stability, and for empirical work.

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    File URL: http://cowles.econ.yale.edu/P/cd/d04a/d0409.pdf
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    Bibliographic Info

    Paper provided by Cowles Foundation for Research in Economics, Yale University in its series Cowles Foundation Discussion Papers with number 409.

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    Length: 24 pages
    Date of creation: 1975
    Date of revision:
    Publication status: Published in Frontiers of Quantitative Economics, Vol. III, North-Holland, 1977, pp. 111-126
    Handle: RePEc:cwl:cwldpp:409

    Note: CFP 451.
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    1. McFadden, Daniel & Mas-Colell, Andreu & Mantel, Rolf & Richter, Marcel K., 1974. "A characterization of community excess demand functions," Journal of Economic Theory, Elsevier, vol. 9(4), pages 361-374, December.
    2. Dierker, Egbert, 1972. "Two Remarks on the Number of Equilibria of an Economy," Econometrica, Econometric Society, vol. 40(5), pages 951-53, September.
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