Existence of Equilibrium Prices for Discontinuous Excess Demand Correspondences

The aim of the paper is to obtain the existence of equilibrium prices in economies where the excess demand correspondences—differently from the usual condition—are not necessarily upper semicontinuous. So, in our setting, we cannot use the Gale-Debreu-Nikaido Lemma. The existence of equilibrium prices is obtained for discontinuous excess demand correspondences which obey to a condition like of the weak axiom of reveled preferences.

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Year of publication:	2011
Authors:	Scalzo, Vincenzo
Published in:	Czech Economic Review. - Institut ekonomických studií, ISSN 1802-4696. - Vol. 5.2011, 2, p. 203-210
Publisher:	Institut ekonomických studií
Subject:	Discontinuous excess demand correspondences \| existence of equilibrium prices \| weak axiom of revealed preferences

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	C62 - Existence and Stability Conditions of Equilibrium ; D51 - Exchange and Production Economies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009251314