Local disaggregation of negative demand and excess demand functions
نویسندگان
چکیده
منابع مشابه
Local Disaggregation of Negative Demand and Excess Demand Functions
The literature on the characterization of aggregate excess and market demand has generated three types of results: global, local, or ’at a point’. In this note, we study the relationship between the last two approaches. We prove that within the class of functions satisfying standard conditions and whose Jacobian matrix is negative semi-definite, only n/2 + 1 agents are needed for the ’at’ decom...
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ژورنال
عنوان ژورنال: Journal of Mathematical Economics
سال: 2007
ISSN: 0304-4068
DOI: 10.1016/j.jmateco.2006.11.004