The existence of walrasian equilibrium Given an endowment W, is there any walrasian equilibria? Assumption 1: The demand function is HdO of price The aggregated extra-demands (p)=∑[x(p,m)=v Assumption2: Walras law. pz(P)=0The existence of Walrasian equilibrium • Given an endowment w, is there any walrasian equilibria? • Assumption1:The demand function is HD0 of price. The aggregated extra-demands • Assumption2: Walras’ law: 1 ( ) [ ( , ) ] I i i i i z p x p pw w = = −  pz p( ) 0 =