The basic idea in the proof that such a λ_0 exists, and hence that a competitive equilibrium exists, is illustrated in example I from the next section. To state the general result, I need additional conditions that characterize the asymptotic behavior of the functions f and g. This is accomplished by means of an asymptotic exponent as defined by Brock and Gale (1969). Given a function h(y), define the asymptotic exponent e of h as 〖e=lim〗┬(y→∞)log_y〖∣h(y)∣〗 . Roughly speaking, h(y) behaves asymptotically like the power function y^e. Also, recall that α is the maximal rate of growth for k implied by the research technology.