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A remark on the continuity of the Walras correspondence in pure exchange economies

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Listed:
  • Ram Sewak Dubey

    (Montclair State University)

  • Francesco Ruscitti

    (John Cabot University)

Abstract

We revisit a classical theme of general equilibrium theory, namely the continuity of the Walras correspondence. Using a remarkable theorem due to Fort (Publ Math Debr 2:100–102, 1951) which has widely been used in recent literature on game theory, we prove the generic continuity of the price equilibrium-set correspondence under very general assumptions on the exchange economy.

Suggested Citation

  • Ram Sewak Dubey & Francesco Ruscitti, 2015. "A remark on the continuity of the Walras correspondence in pure exchange economies," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 3(1), pages 33-41, April.
    • Handle: RePEc:spr:etbull:v:3:y:2015:i:1:d:10.1007_s40505-014-0064-2
    DOI: 10.1007/s40505-014-0064-2
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    References listed on IDEAS

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    Cited by:

    1. Cea-Echenique, Sebastián & Fuentes, Matías, 2024. "On the continuity of the Walras correspondence in distributional economies with an infinite-dimensional commodity space," Mathematical Social Sciences, Elsevier, vol. 129(C), pages 61-69.

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    More about this item

    Keywords

    Exchange economy; Generic continuity; Lower hemi-continuity; Upper hemi-continuity; Walras correspondence;
    All these keywords.

    JEL classification:

    • C65 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Miscellaneous Mathematical Tools
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

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