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On the boundary behavior of the excess demand function

  • Ruscitti, Francesco
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    I revisit thoroughly the standard boundary behavior satisfied by the excess demand function of a competitive economy, and I prove two implications of the boundary behavior. Then, I show that these implications lead to an alternative proof of the existence of competitive equilibria which is instructive, shorter and perhaps easier than the available proofs in the literature.

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    File URL: http://www.sciencedirect.com/science/article/pii/S109094431200021X
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    Article provided by Elsevier in its journal Research in Economics.

    Volume (Year): 66 (2012)
    Issue (Month): 4 ()
    Pages: 371-374

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    Handle: RePEc:eee:reecon:v:66:y:2012:i:4:p:371-374
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622941

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    1. Tian, Guoqiang, 1994. "Generalized KKM theorem, minimax inequalities and their applications," MPRA Paper 41217, University Library of Munich, Germany.
    2. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680, March.
    3. Grandmont, Jean-Michel, 1977. "Temporary General Equilibrium Theory," Econometrica, Econometric Society, vol. 45(3), pages 535-72, April.
    4. Aliprantis, Charalambos D. & Brown, D. J., 1982. "Equilibrium in Markets with a Riesz Space of Commodities," Working Papers 427, California Institute of Technology, Division of the Humanities and Social Sciences.
    5. John Geanakoplos, 2003. "Nash and Walras equilibrium via Brouwer," Economic Theory, Springer, vol. 21(2), pages 585-603, 03.
    6. Husseinov, Farhad, 1999. "Boundary Behavior of Excess Demand and Existence of Equilibrium," Journal of Economic Theory, Elsevier, vol. 87(2), pages 434-449, August.
    7. Frayssé, Jean, 2009. "A simple proof of the existence of an equilibrium when the weak axiom holds," Journal of Mathematical Economics, Elsevier, vol. 45(11), pages 767-769, December.
    8. Mackowiak, Piotr, 2010. "The existence of equilibrium without fixed-point arguments," Journal of Mathematical Economics, Elsevier, vol. 46(6), pages 1194-1199, November.
    9. Werner, Jan, 1987. "Arbitrage and the Existence of Competitive Equilibrium," Econometrica, Econometric Society, vol. 55(6), pages 1403-18, November.
    10. John Quah, 2004. "The existence of equilibrium when excess demand obeys the weak axiom," Economics Series Working Papers 2004-W07, University of Oxford, Department of Economics.
    11. Neuefeind, Wilhelm, 1980. "Notes on Existence of Equilibrium Proofs and the Boundary Behavior of Supply," Econometrica, Econometric Society, vol. 48(7), pages 1831-37, November.
    12. Yannelis, Nicholas C. & Prabhakar, N. D., 1983. "Existence of maximal elements and equilibria in linear topological spaces," Journal of Mathematical Economics, Elsevier, vol. 12(3), pages 233-245, December.
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