An Elementary Proof of the Knaster-Kuratowski-Mazurkiewicz-Shapley Theorem

Stefan Krasa and Nicholas C Yannelis

Economic Theory, 1994, vol. 4, issue 3, 467-71

Abstract: This note provides an elementary short proof of the Knaster-Kuratowski-Mazurkiewicz-Shapley (K-K-M-S) Theorem based on Brouwer's fixed point theorem. The usefulness of the K-K-M-S Theorem lies in the fact that it can be applied to prove directly Scarf's (1967) Theorem, i.e., any balanced game has a non-empty core. We also show that the K-K-M-S Theorem and the Gale-Nikaido-Debreu Theorem can be proved by the same arguments.

Date: 1994
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