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General Equilibrium Theory of Value$
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Yves Balasko

Print publication date: 2011

Print ISBN-13: 9780691146799

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691146799.001.0001

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The Broad Picture

The Broad Picture

Chapter:
(p.62) Chapter 7 The Broad Picture
Source:
General Equilibrium Theory of Value
Author(s):

Yves Balasko

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691146799.003.0007

This chapter shows that the m-tuple (fi) of demand functions defining the exchange model belongs to ε‎r, i.e., the demand function fi is bounded from below (B) for every consumer and satisfies desirability (A) for at least one consumer. These additional properties will give to the natural projection the very important property of properness. The combination of smoothness and properness will suffice to yield what is now known as the theory of regular economies.

Keywords:   demand functions, general equilibrium model, exchange model, consumers, natural projection, properness, regular economies

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