The Gale–Nikaido–Debreu lemma with discontinuous excess demand

Bernard Cornet

Economic Theory Bulletin, 2020, vol. 8, issue 2, No 1, 169-180

Abstract: Abstract We provide a generalization of the Gale–Nikaido–Debreu’s lemma for discontinuous excess demand in the light of recent work on the existence of equilibria in games with discontinuous payoffs. The standard upper hemicontinuity property of the excess demand is replaced by the weaker concept of “continuous inclusion property” introduced by He and Yannelis (J Math Anal Appl 450(2):1421–1433, 2017) and we allow for the cone P of admissible prices to be general enough to cover cases for which commodities cannot be freely disposed of.

Keywords: Existence of equilibrium; Debreu–Gale–Nikaido’s lemma; Fixed-point (search for similar items in EconPapers)
JEL-codes: C62 D50 D53 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (2)

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DOI: 10.1007/s40505-019-00181-5

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