A remark on the continuity of the Walras correspondence in pure exchange economies
Ram Dubey () and
Francesco Ruscitti ()
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Francesco Ruscitti: John Cabot University
Economic Theory Bulletin, 2015, vol. 3, issue 1, No 4, 33-41
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.
Keywords: Exchange economy; Generic continuity; Lower hemi-continuity; Upper hemi-continuity; Walras correspondence (search for similar items in EconPapers)
JEL-codes: C65 D50 D51 (search for similar items in EconPapers)
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