Abstract
Consider an excess demand function Z : ℝ l+ → ℝl, p → Z(p), where ℝ l+ is the set of price vectors p = (p l,..., p l), p i ≥ 0 and the value of Z are taken in commodity space ℝl. For example, Z = D − S, demand less supply, and D, S are derived from a microeconomical setting. This is the approach in [Smale], where some background for this note may be found.
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Smale, S. (1995). Comparative Statics and Algorithms for Finding Economic Equilibria. In: Maruyama, T., Takahashi, W. (eds) Nonlinear and Convex Analysis in Economic Theory. Lecture Notes in Economics and Mathematical Systems, vol 419. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-48719-4_21
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DOI: https://doi.org/10.1007/978-3-642-48719-4_21
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