# Questions tagged [walrasian]

The tag has no usage guidance.

51 questions
Filter by
Sorted by
Tagged with
623 views

### How does Brouwer's fixed point theorem relate to Walrasian equilibrium?

I am trying to understand Walrasian equilibrium and its connection to fixed points, especially how we can apply Brouwer’s fixed point theorem to the notion of Walrasian equilibrium. I understand the ...
• 361
2k views

1 vote
57 views

### How to find a Walrasian equilibrium for this economy?

Consider a production economy with 2 goods, 1 and 2, two consumers A and B, and 2 firms $\alpha,\beta$. The consumers' utility functions are \begin{align} u_A(x_1^A,x_2^A)=x_1^A+x_2^A-\frac{1}{24}(x_1^...
1 vote
32 views

### Endowment of an agent

I was going through the Shapley-Folkman-Starr Lemma (https://simons.berkeley.edu/sites/default/files/docs/3605/simons2.pdf) and I came across the term "endowment" of an agent. My assumption ...
1 vote
320 views

### How to prove that the walrasian demand function $x(p,w)$ is continuous in $p$ and $w$?

If the utility function $u$ is continuous and satisfies local nonsatiation, and walrasian demand function $x(p, w)$ is a function (i.e. always map to only single values), how to prove that $x(p,w)$ is ...
• 392
1 vote
437 views

### What is the Walras law vs first welfare theorem

As far as I know, both of the first welfare theorem and the Walras law are closely tied to the invisible hand. what is the difference between them? thank you very much for your help
• 313
1 vote
73 views

### Walras's law in a Fisher market

Walras's law is stated for an exchange market: each agent comes to the market with a certain endowment of each commodity, a price-vector is determined, and the demand of each agent is the best bundle ...
• 3,075
1 vote
137 views

88 views

### How do I argue that the Walrasian equilibrium is unique?

Consider an economy with 1 consumer and 1 firm. There are only 2 goods, leisure $l$ and corn $c$ and the consumer is endowed with 24 hours of leisure. The consumer's utility function is $u(c,l)=cl$. ...