The theory of general equilibrium was criticized for its apparent lack of testable implications, as seemingly implied by the results of Sonnenschein, Mantel and Debreu in the Seventies. This view was challenged by the results of Brown and Matzkin (1996), which showed the existence of testable...

This paper studies the falsifiability of the hypothesis of Nash behavior, for the case of a finite number of players who choose from continuous domains, subject to constraints. The results obtained here are negative. Assuming the observation of finite data sets, and using weak, but nontrivial,...

The following is proven here: let W : X × C −→ R, where X is convex, be a continuous and bounded function such that for each y ∈ C, the function W (·, y) : X −→ R is concave (resp. strongly concave; resp. Lipschitzian with constant M; resp. monotone; resp. strictly monotone) and let Y...

It is a fact that in most of the countries (both currently and historically) the wealthier a person is, the higher the amount that he or she has to pay in taxes. This feature of a tax system was actually considered by Adam Smith as the first maxim of a good tax regime. In the Wealth of Nations...

Durante las últimas décadas, el mecanismo de subastas ha ganado enorme popularidad como herramienta de asignación de recursos y preponderancia como agenda de investigación académica. En particular, considerando las diferentes alternativas de diseño de una subasta, se han estudiado sus...

Consider the following problem: at each date in the future, a given event may or may not occur, and you will be asked to forecast, at each date, the probability that the event will occur in the next date. Unless you make degenerate forecasts (zero or one), the fact that the event does or does...

The following is proven here: let W : X × C ? R, where X is convex, be a continuous and bounded function such that for each y?C, the function W (·,y) : X ? R is concave (resp. strongly concave; resp. Lipschitzian with constant M; resp. monotone; resp. strictly monotone) and let Y?C. If C is...

In this paper I consider the following problem: there is a collection of exogenously given socially feasible sets, and for each one of them, each one of a group of individuals chooses from an individually feasible set. The fact that the product of the individually feasible sets is larger than...

We show that, even under incomplete markets, the equilibrium manifold identifies individual demands everywhere in their domains. For this, we assume conditions of smoothness, interiority and regularity, and avoid observational requirements at the individual level. It is crucial that there be...

This note shows that the testability result obtained by Brown and Matzkin (1996) for an exchange economy survives the introduction of standard, aggregate production, even without the observation of production levels.