文章基本信息

标题：An Algebraic Proof of the Existence of a Competitive Equilibrium in Exchange Economies
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作者：Guang-Zhen Sun
期刊名称：Theoretical Economics Letters
印刷版ISSN：2162-2078
电子版ISSN：2162-2086
出版年度：2014
卷号：4
期号：3
页码：232-234
DOI：10.4236/tel.2014.43031
出版社：Scientific Research Publishing
摘要：The standard excess demand argument for existence of competitive equilibria in exchange economies invokes maximizing the market value of the aggregate excess demand function and thereby adjusting the prices toward equilibrium. By exploiting the Perron-Frobenius theorem on stochastic matrices, we offer an algebraic proof of the existence of a competitive equilibrium without resorting to such a device of excess demand.
关键词：Exchange Economy; Existence of Competitive Equilibrium; Perron-Frobenius Theorem