Direct perturbations of aggregate excess demand
We complement the Sonnenschein-Mantel-Debreu results by establishing that an exchange economy, i.e., preferences and endowments, that generates a given aggregate excess demand (AED) function is close to the economy that generates a perturbation of this AED. As a consequence, genericity and determinacy results obtained by direct perturbation of an AED are as strong as results obtained by perturbing preferences and endowments.
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- HILDENBRAND, Werner & MERTENS, Jean-François, .
"Upper hemi-continuity of the equilibrium set correspondence for pure exchange economies,"
CORE Discussion Papers RP
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