A hypothesis guaranteeing the weak weak axiom

Luigi Brighi (luigi.brighi@unimore.it) and Reinhard John

Department of Economics from University of Modena and Reggio E., Faculty of Economics "Marco Biagi"

Abstract: The Weak Weak Axiom (WWA) for the aggregate excess demand function ensures uniqueness of equilibrium in regular economies. Jerison (1999) shows that the WWA holds if the excess demand satisfies the hypothesis of Nondecreasing Dispersion of Excess Demand (NDED). This note offers a new hypothesis guaranteeing that the WWA holds and suggests a new way for obtaining supporting empirical evidence.

Keywords: Weak axiom of revealed preference; Nondecreasing dispersion of excess demand; Uniqueness of equilibrium (search for similar items in EconPapers)
JEL-codes: D5 (search for similar items in EconPapers)
Pages: pages 11
Date: 2005-01
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