A hypothesis guaranteeing the weak weak axiom
AbstractThe Weak Weak Axiom (WWA) for the aggregate excess demand function ensures uniqueness of equilibrium in regular economies. Jerison (1999) shows that the WWA holds if the excess demand satisfies the hypothesis of Nondecreasing Dispersion of Excess Demand (NDED). This note offers a new hypothesis guaranteeing that the WWA holds and suggests a new way for obtaining supporting empirical evidence.
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Bibliographic InfoPaper provided by University of Modena and Reggio E., Faculty of Economics "Marco Biagi" in its series Department of Economics with number 0486.
Length: pages 11
Date of creation: Jan 2005
Date of revision:
Weak axiom of revealed preference; Nondecreasing dispersion of excess demand; Uniqueness of equilibrium;
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