Characterizing C2 aggregate excess demand functions

Kam-Chau Wong
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Kam-Chau Wong: Department of Economics, Chinese University of Hong Kong, Shatin, HONG KONG

Economic Theory, 1998, vol. 12, issue 1, 177-188

Abstract: We integrate and sharpen two characterizations of aggregate excess demand functions: we obtain Mas-Colell's (1977) equilibrium invariance, and strengthen Geanakoplos' (1984) weakly concave utility functions to strictly concave ones. Our proofs modify and extend Geanakoplos' utility-construction. We note two applications: a sharper characterization of equilibrium price sets (cf. Mas-Colell (1977)), and a basis for the studies of computable economies (Richter and Wong (1996)).

JEL-codes: D11 D51 (search for similar items in EconPapers)
Date: 1998-06-16
Note: Received: July 29, 1996; revised version: February 20, 1997
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