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Direct perturbations of aggregate excess demand

Author

Listed:
  • Sofia B. S. D. Castro

    () (CMUP - Centro de Matemática da Universidade do Porto, Faculdade de Economia do Porto - Universidade do Porto [Porto])

  • Sami Dakhlia

    () (Department of Economics and Finance - College of Business - USM - University of Southern Mississippi)

  • Peter B. Gothen

    () (CMUP - Centro de Matemática da Universidade do Porto, Faculdade de Ciências - Univerdade do Porto)

Abstract

We establish that an exchange economy, i.e., preferences and endowments, that generates a giiven aggregate excess demand (AED) function is close to the economy generating the AED obtained by an arbitrary perturbation of the original one.

Suggested Citation

  • Sofia B. S. D. Castro & Sami Dakhlia & Peter B. Gothen, 2008. "Direct perturbations of aggregate excess demand," Post-Print halshs-00306408, HAL.
  • Handle: RePEc:hal:journl:halshs-00306408
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00306408
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    References listed on IDEAS

    as
    1. Mas-Colell,Andreu, 1990. "The Theory of General Economic Equilibrium," Cambridge Books, Cambridge University Press, number 9780521388702, April.
    2. Debreu, Gerard, 1970. "Economies with a Finite Set of Equilibria," Econometrica, Econometric Society, vol. 38(3), pages 387-392, May.
    3. Kannai, Yakar, 1970. "Continuity Properties of the Core of a Market," Econometrica, Econometric Society, vol. 38(6), pages 791-815, November.
    4. Mas-Colell, Andreu & Nachbar, John H., 1991. "On the finiteness of the number of critical equilibria, with an application to random selections," Journal of Mathematical Economics, Elsevier, vol. 20(4), pages 397-409.
    5. 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.
    6. Hildenbrand, W & Mertens, J F, 1972. "Upper Hemi-Continuity of the Equilibrium-Set Correspondence for Pure Exchange Economies," Econometrica, Econometric Society, vol. 40(1), pages 99-108, January.
    7. 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)

    More about this item

    Keywords

    exchange economy; transversality; exchange economy.; Arrow-Debreu; transversalité; économie d'échange.;

    JEL classification:

    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics

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