The Econometric SocietyEconometrica: May 1974, Volume 42, Issue 3
An Axiomatic Characterization of the Price Mechanism
https://doi.org/0012-9682(197405)42:3<425:AACOTP>2.0.CO;2-B
p.
425-434
Hugo Sonnenschein
A set of independent axioms are exhibited which characterize the price mechanism. The Debreu-Scarf limit theorem on the core of an economy and a category theory viewpoint are employed in the analysis.Log In To View Full Content