On Walras' model of general equilibrium: A simpler way to demonstate existence (Q1092780): Difference between revisions
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Latest revision as of 11:44, 18 June 2024
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | On Walras' model of general equilibrium: A simpler way to demonstate existence |
scientific article |
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On Walras' model of general equilibrium: A simpler way to demonstate existence (English)
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1987
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The paper addresses Walras' model of general equilibrium with production and presents a simple way to prove existence of an equilibrium solution. This is achieved by constructing an enlarged ``excess demand'' function and then employing the Gale-Nikaido-Debreu Lemma, which has thus far been neglected in this context.
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Walras' model
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general equilibrium
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existence of an equilibrium solution
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