An exposition of Wald’s existence proof

Abstract

In the 74. Kolloquium of 19.3.1934 and in the 80. Kolloquium of 6.11.1934, both with the same title “Über die Produktionsgleichung der ökonomischen Wertlehre ” Wald analysed the solvability of the following system of equations:

$$ \left ( \textup{a} \right )p=f\left ( x \right ), x,p \ \epsilon\ \mathbb{P}^{n}$$

$$ \left ( \textup{b}\right)\ r=Ax+u $$