The existence of equilibrium in a simple exchange model

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作者
Piotr Maćkowiak
机构
[1] Poznań University of Economics,Department of Mathematical Economics
关键词
simple exchange model; equilibrium existence; zero of a function; fixed point; computation of equilibria; simplicial methods;
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摘要
This paper gives a new proof of the existence of equilibrium in a simple model of an exchange economy. We first formulate and prove a simple combinatorial lemma and then we use it to prove the existence of equilibrium. The combinatorial lemma allows us to derive an algorithm for the computation of equilibria. Though the existence theorem is formulated for functions defined on open simplices, it is equivalent to the Brouwer fixed point theorem.
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