There is a collection of exogenously given socially feasible sets, and, for each one of them, each individual in a group chooses from an individually feasible set. The fact that the product of the individually feasible sets is larger than the socially feasible set notwithstanding, there arises...

We show that even under incomplete markets, the equilibrium manifold identifies aggregate demand and individual demands everywhere in their domains. Moreover, under partial observation of the equilibrium manifold, we we construct maximal domains of identification. For this, we assume conditions...

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...

An observer makes a number of observations of an industry producing a homoge- neous good. Each observation consists of the market price, the output of individual firms and perhaps information on each firm's production cost. We provide vari- ous tests (typically, linear programs) with which the...

Foster (1999) has given a proof of the Calibration Theorem of Foster and Vohra (1998), using the Approachability Theorem proposed by Blackwell (1956). This note presents a simplified version of Foster's argument, invoking the specialization given by Greenwald et al. (2006) of Blackwell's Theorem.

Aloisio Araujo and Alvaro Sandroni have shown in [1] that in a complete-markets economy in which there are no exogenous bounds to financial trade, existence of equilibrium requires agents with prior beliefs that agree on zero-probability events, and, therefore, with asymptotically homogeneous...

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,...

General equilibrium theory was criticized for its apparent irrefutability, as seemingly implied by the Sonnenschein-Mantel-Debreu theorem. This view was challenged by Brown and Matzkin (1996), who showed the existence of testable restrictions on the equilibrium manifold. Brown and Matzkin,...