Econometrica Vol. 45 No. 3 1977
Some Generic Properties of Aggregate Excess Demand and an Application
Abstract
[The fact that preference maximizing consumers generate aggregate excess demand is utilized to prove (i) a statement on the values of the excess demand correspondence and (ii) that the economies having an excess demand function are dense in the set of all economies. This is applied to get a straightforward proof for the existence of an equilibrium distribution.]
- DOI
- 10.2307/1911676
- Volume
- 45
- Issue
- 3
- Pages
- 591
- Sources
- bibtex:phds-export.bib crossref openalex