A first order characterization of generalized monotonicity |
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| Authors: | Reinhard John |
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| Affiliation: | 1.Wirtschaftstheoretische Abteilung II, Rheinische Friedrich-Wilhelms-Universit?t Bonn, Adenauerallee 24–42, 53113 Bonn, Germany, e-mail: rjohn@wiwi.uni-bonn.de,DE |
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| Abstract: | It is shown that pseudomonotone and quasimonotone maps can be characterized by a first order property provided they are regular. This result extends the well known characterization of nonvanishing generalized monotone maps to an essentially larger class. The paper supplements a recent contribution by Crouzeix and Ferland (1996) and solves a related open problem concerning homogeneous excess demand functions which occur in general equilibrium theory. Received: April 10, 1998 / Accepted: February 29, 2000?Published online April 20, 2000 |
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| Keywords: | : generalized monotonicity – pseudomonotonicity – quasimonotonicity – first order conditions – weak axiom of revealed preference |
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