Excess demand functions, equilibrium prices, and existence of equilibrium

Kam-Chau Wong

doi:10.1007/s001990050145

Excess demand functions, equilibrium prices, and existence of equilibrium

Economic Theory ◽

10.1007/s001990050145 ◽

1997 ◽

Vol 10 (1) ◽

pp. 39-54 ◽

Cited By ~ 3

Author(s):

Kam-Chau Wong

Keyword(s):

Excess Demand ◽

Existence Of Equilibrium ◽

Demand Functions ◽

Equilibrium Prices

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Market Excess Demand Functions

Econometrica ◽

10.2307/1913184 ◽

1972 ◽

Vol 40 (3) ◽

pp. 549 ◽

Cited By ~ 297

Author(s):

Hugo Sonnenschein

Keyword(s):

Excess Demand ◽

Demand Functions

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On the Disaggregation of Excess Demand Functions

Econometrica ◽

10.2307/1911099 ◽

1980 ◽

Vol 48 (2) ◽

pp. 315 ◽

Cited By ~ 26

Author(s):

J. D. Geanakoplos ◽

H. M. Polemarchakis

Keyword(s):

Excess Demand ◽

Demand Functions

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WHAT A DIFFERENCE A SUM (∑) MAKES: SUCCESS AND FAILURE IN THE RATIONALIZATION OF DEMAND

Journal of the History of Economic Thought ◽

10.1017/s1053837212000387 ◽

2012 ◽

Vol 34 (3) ◽

pp. 379-396 ◽

Cited By ~ 2

Author(s):

D. WADE HANDS

Keyword(s):

General Equilibrium ◽

Excess Demand ◽

Previous Literature ◽

Equilibrium Theory ◽

General Equilibrium Theory ◽

Success Story ◽

Demand Functions ◽

Individual Demand

This paper discusses the Sonnenschein–Mantel–Debreu (SMD) theorems in general equilibrium theory. It argues that the SMD results were related to the previous literature on the integrability of demand. The integrability question involved rationalizing individual demand functions, and the SMD theorems asked the same question about aggregate (market) excess demand functions. The paper’s two goals are to demonstrate how the SMD results followed naturally from the earlier work on integrability, and to point out that the profession’s reception was quite different; the integrability results were considered a success story, while the SMD results were quite negative.

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The decomposition of excess demand functions on Banach spaces

Journal of Mathematical Economics ◽

10.1016/0304-4068(94)90036-1 ◽

1994 ◽

Vol 23 (1) ◽

pp. 59-72

Author(s):

Paulo Klinger Monteiro

Keyword(s):

Banach Spaces ◽

Excess Demand ◽

Demand Functions

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Analysis on Third-Degree Price Discrimination in Oligopoly Market Based on Static Game Theory

Advanced Materials Research ◽

10.4028/www.scientific.net/amr.912-914.1865 ◽

2014 ◽

Vol 912-914 ◽

pp. 1865-1873

Author(s):

Xing You Gao

Keyword(s):

Price Discrimination ◽

Weighted Average ◽

Complete Information ◽

Equilibrium Price ◽

Total Revenue ◽

Static Game ◽

Demand Functions ◽

Equilibrium Prices ◽

Linear Demand ◽

The Relationship

Equilibrium production, equilibrium price and equilibrium total revenue in the case of implementing third-degree price discrimination and unified pricing were analyzed under the condition of two oligopoly firms with 2 sub markets by complete information static game method, and the relationship between the three indexes of the two cases were studied. The results showed that, under the condition of linear demand functions of the two sub markets, the equilibrium output of unified pricing was equal to the equilibrium output of discriminative pricing; the equilibrium price of unified pricing was weighted average of the equilibrium prices of two sub markets while discriminative pricing; the equilibrium total revenue of unified pricing was less than the equilibrium total revenue of discriminative pricing.

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