Abstract
We give an elementary proof of Brouwer’s fixed-point theorem. The only mathematical prerequisite is a version of the Bolzano–Weierstrass theorem: a sequence in a compact subset of -dimensional Euclidean space has a convergent subsequence with a limit in that set. Our main tool is a ‘no-bullying’ lemma for agents with preferences over indivisible goods. What does this lemma claim? Consider a finite number of children, each with a single indivisible good (a toy) and preferences over those toys. Let us say that a group of children, possibly after exchanging toys, could bully some poor kid if all group members find their own current toy better than the toy of this victim. The no-bullying lemma asserts that some group of children can redistribute their toys among themselves in such a way that all members of get their favorite toy from , but they cannot bully anyone.
Original language | English |
---|---|
Pages (from-to) | 1-5 |
Number of pages | 5 |
Journal | Journal of Mathematical Economics |
Volume | 78 |
Early online date | 26 Jul 2018 |
DOIs | |
Publication status | Published - 1 Oct 2018 |
Keywords
- Brouwer
- Fixed point
- Indivisible goods
- KKM lemma
- Top trading cycles