Sonnenschein–Mantel–Debreu theorem
id:
sonnenschein-mantel-debreu-theorem-233-4149188
title:
Sonnenschein–Mantel–Debreu theorem
text:
The Sonnenschein–Mantel–Debreu theorem is an important result in general equilibrium economics, proved by Gérard Debreu, Rolf Mantel, and Hugo F. Sonnenschein in the 1970s. It states that the excess demand curve for an exchange economy populated with utility-maximizing rational agents can take the shape of any function that is continuous, has homogeneity degree zero, and is in accordance with Walras's law. This implies that the excess demand function does not take a well-behaved form even if eac
brand slug:
wiki
category slug:
encyclopedia
description:
Economic theorem
original url:
https://en.wikipedia.org/wiki/Sonnenschein%E2%80%93Mantel%E2%80%93Debreu_theorem
date created:
date modified:
2024-01-09T13:33:39Z
main entity:
{"identifier":"Q925224","url":"https://www.wikidata.org/entity/Q925224"}
image:
fields total:
13
integrity:
14