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Two lemmas that changed general equilibrium theory

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Abstract

This short paper, published in Games and Economic Behavior (July 2009) "In Memoriam" of David Gale, emphasizes the seminal role played by two lemmas of David Gale in the development of the foundations of General Equilibrium Theory.

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File URL: ftp://mse.univ-paris1.fr/pub/mse/CES2009/09052.pdf
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Paper provided by Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne in its series Documents de travail du Centre d'Economie de la Sorbonne with number 09052.

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Length: 5 pages
Date of creation: Aug 2009
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Handle: RePEc:mse:cesdoc:09052

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Keywords: Fixed points; equilibrium; excess demand correspondence; Gale-Nikaido-Debreu lemma; simultaneous optimization approach; Michael selection theorems.;

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  1. Gerard Debreu, 1956. "Market Equilibrium," Cowles Foundation Discussion Papers 10, Cowles Foundation for Research in Economics, Yale University.
  2. Gale, David, 1973. "Pure exchange equilibrium of dynamic economic models," Journal of Economic Theory, Elsevier, vol. 6(1), pages 12-36, February.
  3. Geistdoerfer-Florenzano, Monique, 1982. "The gale-nikaido-debreu lemma and the existence of transitive equilibrium with or without the free-disposal assumption," Journal of Mathematical Economics, Elsevier, vol. 9(1-2), pages 113-134, January.
  4. Gale, D. & Mas-Colell, A., 1979. "Corrections to an equilibrium existence theorem for a general model without ordered preferences," Journal of Mathematical Economics, Elsevier, vol. 6(3), pages 297-298, December.
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