This paper gives a unified and simple treatment of three related questions in the demand theory of the weak axiom: (i) Is there an elementary, i.e., non-fixed point theoretic, proof of equilibrium existence when the excess demand function of an economy satisfies the weak axiom? (ii) What conditions are sufficient for a non-transitive preference to generate a continuous demand function? Note that such a demand must satisfy the weak, though not necessarily the strong, axiom. This motivates the next question. (iii) Given a function that satisfy the weak axiom, can we find a preference that generates it?
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Paper provided by Economics Group, Nuffield College, University of Oxford in its series Economics Papers with number
2000-w12.
Find related papers by JEL classification: A10 - General Economics and Teaching - - General Economics - - - General D30 - Microeconomics - - Distribution - - - General
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