The existence of equilibrium when excess demand obeys the weak axiom
This paper gives a non-fixed 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 entitled An Elementary Equilibrium Existence Theorem, Working Paper W6 (2000), Nuffield College, Oxford.)
|Date of creation:||01 Feb 2004|
|Date of revision:|
|Contact details of provider:|| Postal: Manor Rd. Building, Oxford, OX1 3UQ|
Web page: http://www.economics.ox.ac.uk/
More information through EDIRC
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.:
- Michael Jerison, 1998.
"Dispersed Excess Demands, the Weak Axiom and Uniqueness of Equilibrium,"
98-03, University at Albany, SUNY, Department of Economics.
- Jerison, Michael, 1999. "Dispersed excess demands, the weak axiom and uniqueness of equilibrium," Journal of Mathematical Economics, Elsevier, vol. 31(1), pages 15-48, February.
- Quah, J.K.-H., 2000.
"Weak Axiomatic Demand Theory,"
2000-w12, Economics Group, Nuffield College, University of Oxford.
- Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680, July.
- 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(1-2), pages 153-163, February.
- Shafer, Wayne J, 1974. "The Nontransitive Consumer," Econometrica, Econometric Society, vol. 42(5), pages 913-19, September.
- Reinhard John, 1999. "Abraham Wald's equilibrium existence proof reconsidered," Economic Theory, Springer, vol. 13(2), pages 417-428.
- Quah, John K. -H., 2003. "Market demand and comparative statics when goods are normal," Journal of Mathematical Economics, Elsevier, vol. 39(3-4), pages 317-333, June.
- 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 385-389.
- John H. Nachbar, 2002. "General Equilibrium Comparative Statics," Econometrica, Econometric Society, vol. 70(5), pages 2065-2074, September.
- John K.-H. Quah, 1997. "The Law of Demand when Income Is Price Dependent," Econometrica, Econometric Society, vol. 65(6), pages 1421-1442, November.
- Michael Jerison & John K.-H. Quah, 2006. "Law of Demand," Discussion Papers 06-07, University at Albany, SUNY, Department of Economics.
When requesting a correction, please mention this item's handle: RePEc:oxf:wpaper:2004-w07. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Monica Birds)
If references are entirely missing, you can add them using this form.