The existence of equilibrium when excess demand obeys the weak axiom
This paper gives a nonfixed point theoretic proof of equilibrium existence when the excess demand function of an exchange economy obeys the weak axiom. The proof is simple and geometrically intuitive, and it also permits a weakening of the continuity assumption on the excess demand function. (This paper is a more developed and (one hopes) improved version of an earlier working paper called An Elementary Equilibrium Existence Theorem, Working Paper W6 (2000), Nuffield College, Oxford.)
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Length:  13 pages 
Date of creation:  05 Mar 2004 
Date of revision:  
Handle:  RePEc:nuf:econwp:047 
Contact details of provider:  Web page: https://www.nuffield.ox.ac.uk/economics/

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
 John Quah, 2006.
"Weak axiomatic demand theory,"
Economic Theory,
Springer;Society for the Advancement of Economic Theory (SAET), vol. 29(3), pages 677699, November.
 John Quah, 2000. "Weak Axiomatic Demand Theory," Economics Series Working Papers 2000W12, University of Oxford, Department of Economics.
 Quah, J.K.H., 2000. "Weak Axiomatic Demand Theory," Economics Papers 2000w12, Economics Group, Nuffield College, University of Oxford.
 John H. Nachbar, 2002. "General Equilibrium Comparative Statics," Econometrica, Econometric Society, vol. 70(5), pages 20652074, September.
 Reinhard John, 1999. "Abraham Wald's equilibrium existence proof reconsidered," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 13(2), pages 417428.
 John K.H. Quah, 1997. "The Law of Demand when Income Is Price Dependent," Econometrica, Econometric Society, vol. 65(6), pages 14211442, November.
 MasColell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680, December.
 John Quah, 1999.
"The Weak Axiom and Comparative Statics,"
Economics Series Working Papers
1999W15, University of Oxford, Department of Economics.
 John K.H. Quah, 2000. "The Weak Axiom and Comparative Statics," Econometric Society World Congress 2000 Contributed Papers 0437, Econometric Society.
 Nachbar, John H., 2004. "General equilibrium comparative statics: discrete shocks in production economies," Journal of Mathematical Economics, Elsevier, vol. 40(12), pages 153163, February.
 Jerison, Michael, 1999.
"Dispersed excess demands, the weak axiom and uniqueness of equilibrium,"
Journal of Mathematical Economics,
Elsevier, vol. 31(1), pages 1548, February.
 Michael Jerison, 1998. "Dispersed Excess Demands, the Weak Axiom and Uniqueness of Equilibrium," Discussion Papers 9803, University at Albany, SUNY, Department of Economics.
 Quah, John K. H., 2003. "Market demand and comparative statics when goods are normal," Journal of Mathematical Economics, Elsevier, vol. 39(34), pages 317333, June.
 Grandmont Jeanmichel, 1991.
"Transformation of the commodity space, behavioral heterogeneity and the aggregation problem,"
CEPREMAP Working Papers (Couverture Orange)
9114, CEPREMAP.
 Grandmont, JeanMichel, 1992. "Transformations of the commodity space, behavioral heterogeneity, and the aggregation problem," Journal of Economic Theory, Elsevier, vol. 57(1), pages 135.
 JeanMichel Grandmont, 1991. "Transformations of the Commodity Space, Behavioral Heterogeneity and the Aggregation Problem," Cowles Foundation Discussion Papers 987, Cowles Foundation for Research in Economics, Yale University.
 Rosa Barbolla & Luis C. Corchón, 1989. "An Elementary Proof of the Existence of a Competitive Equilibrium in a Special Case," The Quarterly Journal of Economics, Oxford University Press, vol. 104(2), pages 385389.
 Shafer, Wayne J, 1974. "The Nontransitive Consumer," Econometrica, Econometric Society, vol. 42(5), pages 91319, September.
 Michael Jerison & John K.H. Quah, 2006. "Law of Demand," Discussion Papers 0607, University at Albany, SUNY, Department of Economics.
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