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The existence of Nash and Walras equilibrium is proved via Brouwer's Fixed Point Theorem, without recourse to Kakutani …'s Fixed Point Theorem for correspondences. The domain of the Walras fixed point map is confined to the price simplex, even …
Persistent link: https://www.econbiz.de/10005593373
explicitly, on a market equilibrium framework or provide no framework at all. This paper offers a working alternative that relies …, not on a market equilibrium framework, but rather on a stock-flow equilibrium framework. In doing so, we lay out a … financialized - and which does not require that prices inevitably tend toward some prespecified market equilibrium. …
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explicitly, on a market equilibrium framework or provide no framework at all. This paper offers a working alternative that relies …, not on a market equilibrium framework, but rather on a stock-flow equilibrium framework. In doing so, we lay out a … financialized - and which does not require that prices inevitably tend toward some prespecified market equilibrium. …
Persistent link: https://www.econbiz.de/10010211946
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explicitly, on a market equilibrium framework or provide no framework at all. This paper offers a working alternative that relies …, not on a market equilibrium framework, but rather on a stock-flow equilibrium framework. In doing so, we lay out a … financialized—and which does not require that prices inevitably tend toward some prespecified market equilibrium. …
Persistent link: https://www.econbiz.de/10010862122