Abstract

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Direct Perturbations of Aggregate Excess Demand

Sofia B.S.D. Castro
Universidade do Porto - Faculdade de Economia (FEP); Universidade do Porto - Centro de Matemática da Universidade do Porto (CMUP)

Sami F. Dakhlia
University of Southern Mississippi - College of Business Administration - Economics, Finance, & International Business

Peter B. Gothen
Universidade do Porto - Centro de Matemática da Universidade do Porto (CMUP); Departamento de Matemática Pura, Faculdade de Ciências da Universidade do Porto

November 30, 2009

Abstract:
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.

Keywords: Arrow-Debreu, aggregate excess demand, genericity, determinacy, transversality, general equilibrium, Sonnenschein-Mantel-Debreu

JEL Classifications: D50, C62, C02

Working Paper Series

Date posted: July 09, 2008 ; Last revised: March 16, 2010

Suggested Citation

Castro, Sofia B.S.D., Dakhlia, Sami F. and Gothen, Peter B., Direct Perturbations of Aggregate Excess Demand (November 30, 2009). Available at SSRN: http://ssrn.com/abstract=1156098

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Contact Information

Sami F. Dakhlia (Contact Author) University of Southern Mississippi - College of Business Administration - Economics, Finance, & International Business ( email ) USM Box 5072 Hattiesburg, MS 39406 United States 310-947-8590 (Phone) HOME PAGE: http://tinyurl.com/microprof
Sofia B.S.D. Castro Universidade do Porto - Faculdade de Economia (FEP) ( email ) Rua Dr. Roberto Frias s/n 4200-464 Porto 4200-464 Portugal
Universidade do Porto - Centro de Matemática da Universidade do Porto (CMUP) ( email ) Rua do Campo Alegre Porto Portugal
Peter B. Gothen Universidade do Porto - Centro de Matemática da Universidade do Porto (CMUP) ( email ) FCUP Rua do Campo Alegre 687 Porto 4169-007 Portugal HOME PAGE: http://cmup.fc.up.pt/cmup/pbgothen/
Departamento de Matemática Pura, Faculdade de Ciências da Universidade do Porto ( email ) Rua do Campo Alegre 687 Porto 4169-007 Portugal HOME PAGE: http://cmup.fc.up.pt/cmup/pbgothen/

Abstract

Date posted: July 09, 2008 ; Last revised: March 16, 2010

Suggested Citation

Contact Information

Sami F. Dakhlia (Contact Author)

Sofia B.S.D. Castro

Peter B. Gothen