Econometrica

Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Home> Publications> Econometrica>An Axiomatic Characterization of the Price Mechanism

Econometrica: May, 1974, Volume 42, Issue 3

An Axiomatic Characterization of the Price Mechanism

https://www.jstor.org/stable/1911782
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.

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December 4, 2024

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The Executive Committee of the Econometric Society has approved an increase in the submission fees for papers in Econometrica.  Starting January 1, 2025, the fee for new submissions to Econometrica will be US$125 for regular members and US$50 for student members.
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