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A hypothesis guaranteeing the weak weak axiom

Author

Listed:
  • Luigi Brighi
  • Reinhard John

Abstract

The Weak Weak Axiom (WWA) for the aggregate excess demand function ensures uniqueness of equilibrium in regular economies. Jerison (1999) shows that the WWA holds if the excess demand satisfies the hypothesis of Nondecreasing Dispersion of Excess Demand (NDED). This note offers a new hypothesis guaranteeing that the WWA holds and suggests a new way for obtaining supporting empirical evidence.

Suggested Citation

  • Luigi Brighi & Reinhard John, 2005. "A hypothesis guaranteeing the weak weak axiom," Department of Economics 0486, University of Modena and Reggio E., Faculty of Economics "Marco Biagi".
    • Handle: RePEc:mod:depeco:0486
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    More about this item

    Keywords

    Weak axiom of revealed preference; Nondecreasing dispersion of excess demand; Uniqueness of equilibrium;
    All these keywords.

    JEL classification:

    • D5 - Microeconomics - - General Equilibrium and Disequilibrium

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