The Weak Weak Axiom (WWA) is a milder version of the Weak Axiom of Revealed Preference (WA) and is equivalent to pseudomonotonicity of the excess demand function.Since the WWA guarantees uniqueness of the equilibrium in a broad class of general equilibrium models, it is important to have criteria to check when the WWA holds.In this paper a new and more general characterization ofpseudomonotonicity for $C^1$ maps is provided. Using this result we obtain a stronger criterion for the WWA than those available in the literature.A complete characterization of the WA for excess demand functions is also offered and other important existing results are obtained in a straightforward fashion.

A Stronger Criterion for the Weak Weak Axiom / Brighi, Luigi. - In: JOURNAL OF MATHEMATICAL ECONOMICS. - ISSN 0304-4068. - STAMPA. - 40:(2004), pp. 93-103.

A Stronger Criterion for the Weak Weak Axiom

BRIGHI, Luigi
2004

Abstract

The Weak Weak Axiom (WWA) is a milder version of the Weak Axiom of Revealed Preference (WA) and is equivalent to pseudomonotonicity of the excess demand function.Since the WWA guarantees uniqueness of the equilibrium in a broad class of general equilibrium models, it is important to have criteria to check when the WWA holds.In this paper a new and more general characterization ofpseudomonotonicity for $C^1$ maps is provided. Using this result we obtain a stronger criterion for the WWA than those available in the literature.A complete characterization of the WA for excess demand functions is also offered and other important existing results are obtained in a straightforward fashion.
40
93
103
A Stronger Criterion for the Weak Weak Axiom / Brighi, Luigi. - In: JOURNAL OF MATHEMATICAL ECONOMICS. - ISSN 0304-4068. - STAMPA. - 40:(2004), pp. 93-103.
Brighi, Luigi
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11380/448712
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