Characterizing C 2 aggregate excess demand functions

Kam-Chau Wong

doi:10.1007/s001990050216

Characterizing C 2 aggregate excess demand functions

Economic Theory ◽

10.1007/s001990050216 ◽

1998 ◽

Vol 12 (1) ◽

pp. 177-188

Author(s):

Kam-Chau Wong

Keyword(s):

Excess Demand ◽

Demand Functions

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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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