A simple proof of the existence of an equilibrium when the weak axiom holds
An elementary proof of the existence of a competitive equilibrium is given for economies where the weak axiom holds. It is shown by an induction argument on the number of goods that the problem is reduced to the question of the existence of an equilibrium in a two-good economy.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Quah, John K.-H., 2008.
"The existence of equilibrium when excess demand obeys the weak axiom,"
Journal of Mathematical Economics,
Elsevier, vol. 44(3-4), pages 337-343, February.
- John K.-H. Quah, 2004. "The existence of equilibrium when excess demand obeys the weak axiom," Economics Papers 2004-W07, Economics Group, Nuffield College, University of Oxford.
- Joseph Greenberg, 1977. "An Elementary Proof of the Existence of a Competitive Equilibrium with Weak Gross Substitutes," The Quarterly Journal of Economics, Oxford University Press, vol. 91(3), pages 513-516.
- Fraysse, J., 1997. "An Elementary Proof of the Existence of a Competitive Equilibrium in Some SPecial Classes of Economies," Papers 97.479, Toulouse - GREMAQ.
- Dana, Rose-Anne, 1993. "Existence, uniqueness and determinacy of Arrow-Debreu equilibria in finance models," Journal of Mathematical Economics, Elsevier, vol. 22(6), pages 563-579.
- Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680, April.
- Rosa Barbolla & Luis C. Corchón, 1989. "An Elementary Proof of the Existence of a Competitive Equilibrium in a Special Case," The Quarterly Journal of Economics, Oxford University Press, vol. 104(2), pages 385-389. Full references (including those not matched with items on IDEAS)