Utility functions for Debreu's ‘excess demands’ |
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Authors: | John Geanakoplos |
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Affiliation: | Yale University, New Haven, CT 06520, USA |
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Abstract: | Given an arbitrary function x: l→l satisfying Walras law and homogeneity, Debreu decomposed x into the sum of l ‘individually rational’ functions x(p)=Σlk=1[uvbar|x]k(p). Here we find explicit utility functions uk, constructed on the basis of a simple geometric intuition, which give rise to Debreu's excess demands [uvbar|x]k(p). |
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