As I have tried to ask a couple times:
What is your view on the Sonnenschein–Mantel–Debreu theorem?
As I have tried to ask a couple times:
What is your view on the Sonnenschein–Mantel–Debreu theorem?
I should explain, one of my proffs is making a big deal about the market demand curve etc. I can’t find any good explanations of this theorem.
Pareto-efficiency is achieved regardless of uniqueness. What are the alleged issues? Individual rationality doesn’t aggregate?