Testable restrictions of general equilibrium theory in exchange economies with externalities
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Borradores de Economía; No. 231
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2003-02-18
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2003-02-18
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Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.
Abstract
The theory of general equilibrium was criticized for its apparent lack of testable implications, as seemingly implied by the results of Sonnenschein, Mantel and Debreu in the Seventies. This view was challenged by the results of Brown and Matzkin (1996),
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Esta obra está bajo licencia internacional Creative Commons Reconocimiento-NoComercial 4.0.
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