Direct perturbations of aggregate excess demand
We complement the Sonnenschein-Mantel-Debreu results by establishing that an exchange economy, i.e., preferences and endowments, that generates a given aggregate excess demand (AED) function is close to the economy that generates a perturbation of this AED. As a consequence, genericity and determinacy results obtained by direct perturbation of an AED are as strong as results obtained by perturbing preferences and endowments.
Year of publication: |
2010
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Authors: | Castro, Sofia B.S.D. ; Dakhlia, Sami ; Gothen, Peter B. |
Published in: |
Journal of Mathematical Economics. - Elsevier, ISSN 0304-4068. - Vol. 46.2010, 4, p. 562-571
|
Publisher: |
Elsevier |
Keywords: | Arrow-Debreu Aggregate excess demand Genericity Determinacy Transversality General equilibrium Sonnenschein-Mantel-Debreu |
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