An Elementary Proof of the Existence of a Competitive Equilibrium in Some SPecial Classes of Economies
AbstractAn elementary proof of the existence of a competitive equilibrium is given for economies where the weak axiom of revealed preference or the gross substitution property hold. It is shown by an induction argument that in these cases, the problem is reduced to the question of the existence of an equilibrium in a two-goods economy.
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Bibliographic InfoPaper provided by Toulouse - GREMAQ in its series Papers with number 97.479.
Length: 7 pages
Date of creation: 1997
Date of revision:
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ECONOMIC EQUILIBRIUM ; COMPETITION;
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- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
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- Frayssé, Jean, 2009. "A simple proof of the existence of an equilibrium when the weak axiom holds," Journal of Mathematical Economics, Elsevier, vol. 45(11), pages 767-769, December.
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