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Rubinstein2005-page83

Rubinstein2005-page83 - Kreps 1990 37–45 Mas-Colell et al...

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October 21, 2005 12:18 master Sheet number 81 Page number 65 Demand: Consumer Choice 65 Figure 5.4 A compensated price change from ( p , w ) to ( p 0 , w 0 ) . (by Walras’s law and the assumption that w 0 = p 0 x ( p , w ) ), and by WA the right-hand side of the equation is less than 0. Bibliographic Notes Recommended readings
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Unformatted text preview: : Kreps 1990, 37–45, Mas-Colell et al. 1995, Chapter 2, A–D, 3, D,J. The material in this lecture, up to the discussion of differentiabil-ity, is fairly standard and closely parallels that found in Arrow and Hahn (1971) and Varian (1984)....
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