Three Lectures on the Walrasian Hypotheses for Exchange Economies
AbstractThis paper discusses the testable implications of the Walrasian hypotheses: H1 - Observed market demand is the sum of consumer's demands derived from utility maximization subject to budget constraints. H2 - There exists an observable (locally) unique equilibrium price system such that the observable market demand is equal to the observable market supply in every market. H3 - The observed equilibrium price system is a (locally) stable equilibrium of tatonnement price adjustment.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Yale - Economic Growth Center in its series Papers with number 782.
Length: 17 pages
Date of creation: 1997
Date of revision:
Contact details of provider:
Postal: U.S.A.; YALE UNIVERSITY, ECONOMIC GROWTH CENTER, YALE STATION NEW-HAVEN CONNECTICUT 06520 U.S.A
Phone: (203) 432-3610
Fax: (203) 432-3898
Web page: http://www.econ.yale.edu/~egcenter/
More information through EDIRC
GENERAL EQUILIBRIUM ; TESTS;
Find related papers by JEL classification:
- C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Krichel).
If references are entirely missing, you can add them using this form.