Three Lectures on the Walrasian Hypotheses for Exchange EconomiesEconomic Growth Center, Yale University, 1997 - 17 pages |
Common terms and phrases
Afriat inequalities Afriat's theorem agent aggregate axiom of revealed Balasko budget constraint Chiappori and Rochet concave function concave utility function convex convex function convolution distribution economies equilibrium manifold equilibrium price system equivalent excess demand function exchange economies existence theorem family of polynomial finite data sets finite family Fourier-Motzkin elimination homothetic income distribution indirect utility function individual consumption individual demand individual endowments Koichi Hamada lecture linear inequalities locally monotone marginal utilities market clearing market data market excess demand meaningful theorem monotone comparative statics monotone demand monotone utility function non-satiated utility function observed equilibrium price Observed market demand polynomial inequalities price adjustment mechanism price vector properties quantifier elimination rationalize the data refutable revealed preference satisfied second derivative set of inequalities smooth characteristics Sonnenschein-Debreu-Mantel theorem system of polynomial T. N. Srinivasan Tarski-Seidenberg algorithm Tarski-Seidenberg theorem tātonnement price adjustment testable restrictions uniqueness unobservables utility levels utility maximization subject Walrasian correspondence Walrasian hypotheses Walrasian model