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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- Mas-Colell,Andreu, 1990.
"The Theory of General Economic Equilibrium,"
Cambridge University Press, number 9780521388702, December.
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- Lehmann-Waffenschmidt, Marco, 1995. "On the equilibrium price set of a continuous perturbation of exchange economies," Journal of Mathematical Economics, Elsevier, vol. 24(5), pages 497-519.
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- HILDENBRAND, Werner & MERTENS, Jean-François, "undated". "Upper hemi-continuity of the equilibrium set correspondence for pure exchange economies," CORE Discussion Papers RP 109, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Kannai, Yakar, 1974. "Approximation of convex preferences," Journal of Mathematical Economics, Elsevier, vol. 1(2), pages 101-106, August. Full references (including those not matched with items on IDEAS)
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