A Hypothesis Guaranteeing the Weak Weak Axiom

descriptionPublicationkeyboard_double_arrow_right Research , Preprint 01 Jan 2005 Italy English Publisher:Dipartimento di Economia Politica - Università di Modena e Reggio Emilia

Authors: BRIGHI, Luigi; R. John;

handle: 11380/634624

A Hypothesis Guaranteeing the Weak Weak Axiom

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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.

Country

Italy

Related Organizations

University of Modena and Reggio Emilia
Italy

Keywords

Weak axiom of revealed preference; Nondecreasing dispersion of excess demand; Uniqueness of equilibrium, jel: jel:D5

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