| Sumario: | In this paper we are interested mainly in this last aspect: the effects of non-realization of (positive or negative) excess demand on the market mechanism. The implicit frustrations have been formalized by Clower [3] in his dual decision hypothesis, and Patinkin's [21] term, "spillover ", has been used to refer to their effects on excess market demands. The essence of the dual decision hypothesis is simply that the individual market demands may be functions of the realized transactions in other markets, and that, as a result, the relevant market signals are based on such revised or effective excess demands, instead of the notional excess demands of traditional theory.
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