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Author : Thomas A. Marschak
Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.:/5 (153 download)
Download or read book General Equilibrium with Price-making Firms written by Thomas A. Marschak and published by . This book was released on 1973 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : T. Marschak
Publisher : Springer Science & Business Media
ISBN 13 : 3642658024
Total Pages : 257 pages
Book Rating : 4.6/5 (426 download)
Download or read book General Equilibrium with Price-Making Firms written by T. Marschak and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Motivation. That elegant fiction the competitive equilibrium seems still to dominate the frontiers of theoretical microeconomics. We may think of it in a general way as a state of affairs wherein economic agents, responding "rationally" to annoWlced prices, make choices which are consistent and feasible. The prices may also be described as "taken": for one reason or another the agents who respond to them consider them as given. The existence of such a state, its optimality, its robustness against free bargaining among agents when there are many of them, its Wliqueness, its stability when price displacements evoke specified adjustments--all these issues have been studied, and continue to be studied in a variety of settings. Slowly the equilibrium investigated begins to incorporate public goods, externalities of certain kinds, differences in agents' information, and infinitely many time periods. The appeal of such results need not be belabored: the equilibrium studied may sustain an optimal resource allocation, and when it does it sus tains it in a manner that appears to be informationally efficient and to accord well with individual incentives. Therefore it is important to extend the circumstances under which an equilibrium exists, under which it sustains opti mality, and under which it survives displacements as well as free bargaining among agents.
Author : Thomas Marschak
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (883 download)
Download or read book General Equilibrium with Price-making Firms written by Thomas Marschak and published by . This book was released on 1974 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ross M. Starr
Publisher : Cambridge University Press
ISBN 13 : 9780521564731
Total Pages : 280 pages
Book Rating : 4.5/5 (647 download)
Download or read book General Equilibrium Theory written by Ross M. Starr and published by Cambridge University Press. This book was released on 1997-07-13 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: General Equilibrium Theory: An Introduction treats the classic Arrow-Debreu general equilibrium model in a form accessible to graduate students and advanced undergraduates in economics and mathematics. Topics covered include mathematical preliminaries, households and firms, existence of general equilibrium, Pareto efficiency of general equilibrium, the First and Second Fundamental Theorems of Welfare Economics, the core and core convergences, future markets over time and contingent commodity markets under uncertainty. Demand, supply, and excess demand appear first as (point-valued) functions, then optionally as (set-valued) correspondences. The mathematics presented (with elementary proofs of the theorems) includes a real analysis, the Brouwer fixed point theorem, and separating and supporting hyperplane theorems. Optional chapters introduce the existence of equilibrium with set-valued supply and demand, the mathematics of upper and lower hemicontinuous correspondences, and the Kakutani fixed point theorem. The treatment emphasizes clarity and accessibility to the student through use of examples and intuition.
Author : Hans Gersbach
Publisher : Springer
ISBN 13 : 331960516X
Total Pages : 186 pages
Book Rating : 4.3/5 (196 download)
Download or read book Groups and Markets written by Hans Gersbach and published by Springer. This book was released on 2017-07-29 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph studies multi-member households or, more generally, socio-economic groups from a purely theoretical perspective and within a general equilibrium framework, in contrast to a sizeable empirical literature. The approach is based on the belief that households, their composition, decisions and behavior within a competitive market economy deserve thorough examination. The authors set out to link the formation, composition, decision-making, and stability of households. They develop general equilibrium models of pure exchange economies in which households can have several, typically heterogeneous members and act as collective decision-making units on the one hand and as competitive market participants on the other hand. Moreover, the more advanced models combine traditional exchange (markets for commodities) and matching (markets for people or partners) and develop implications for welfare, social structures, and economic policy. In the field of family economics, Hans Haller and Hans Gersbach have pioneered a ‘market’ approach that applies the tools of general equilibrium theory to the analysis of household behavior. This very interesting book presents an overview of their methods and results. This is an inspiring work. Pierre-André Chiappori, Columbia University, USA The sophisticated, insightful and challenging analysis presented in this book extends the theory of the multi-person household along an important but relatively neglected dimension, that of general equilibrium theory. It also challenges GE theorists themselves to follow Paul Samuelson in taking seriously the real attributes of that fundamental building block, the household, as a social group whose decisions may not satisfy the standard axioms of individual choice. This synthesis and extension of their earlier work by Gersbach and Haller will prove to be a seminal contribution in its field. Ray Rees, LMU Munich, Germany
Author : W. D. A. Bryant
Publisher : World Scientific
ISBN 13 : 9812818359
Total Pages : 492 pages
Book Rating : 4.8/5 (128 download)
Download or read book General Equilibrium written by W. D. A. Bryant and published by World Scientific. This book was released on 2010 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt: General Equilibrium Theory studies the properties and operation of free market economies. The field is a response to a series of questions originally outlined by Leon Walras about the operation of markets and posed by Frank Hahn in the following way: OCyDoes the pursuit of private interest, through a system of interconnected deregulated markets, lead not to chaos but to coherence OCo and if so, how is that achieved?OCO This is always an apt question, but particularly so given the OCyGlobal Financial CrisisOCO that emerged from the operation of market economies in the Americas and Europe in mid to late 2008. The answer that General Equilibrium Theory provides to the Walras-Hahn question is that, under certain conditions coherence is possible, while under certain other conditions chaos, in various forms, is likely to prevail. The conditionality of either outcome is not always well understood OCo neither by proponents of, or antagonists to, the OCyfree market positionOCO. Consequently, this book attempts to show something of what General Equilibrium Theory has to say about the wisdom or otherwise of always relying on OCymarket forcesOCO to manage complex socio-economic systems. Sample Chapter(s). Chapter 1: General Equilibrium Theory: An Overview (138 KB). Contents: General Equilibrium Theory: An Overview; Existence of Equilibrium: Sufficient Conditions; Existence of Equilibrium: Necessary Conditions; Equilibrium and Irreducibility: Some Empirical Evidence; Existence of Equilibrium Under Alternative Income Conditions; Existence of Walrasian Equilibrium in Some NonOCoArrow-Debreu Environments; Uniqueness of Equilibrium; Stability of Equilibrium; Optimality of Equilibrium; Comparative Statics of Equilibrium States; Empirical Evidence on General Equilibrium; General Equilibrium Theory in Retrospect. Readership: Advanced undergraduates and graduate students in economics; economists interested in economic theory."
Author : Robert Triffin
Publisher :
ISBN 13 :
Total Pages : 216 pages
Book Rating : 4.:/5 (51 download)
Download or read book Monopolistic Competition and General Equilibrium Theory written by Robert Triffin and published by . This book was released on 1962 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Bryan Ellickson
Publisher : Cambridge University Press
ISBN 13 : 9780521319881
Total Pages : 424 pages
Book Rating : 4.3/5 (198 download)
Download or read book Competitive Equilibrium written by Bryan Ellickson and published by Cambridge University Press. This book was released on 1993 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: The development of general equilibrium theory represents one of the greatest advances in economic analysis in the latter half of the twentieth century. This book, intended for advanced undergraduates and graduate students, provides a broad introduction to competitive equilibrium analysis with an emphasis on concrete applications. The first three chapters are introductory in nature, paving the way for the more advanced second half of the book. Relative to the competition, it is much more 'user friendly' while offering exceptionally broad coverage of topics. Well-designed and interesting applications help to make potentially abstract material more accessible. The book includes 92 illustrations and nearly 200 exercises.
Author : Takashi Suzuki
Publisher : World Scientific
ISBN 13 : 981121963X
Total Pages : 436 pages
Book Rating : 4.8/5 (112 download)
Download or read book Fundamentals Of General Equilibrium Analysis written by Takashi Suzuki and published by World Scientific. This book was released on 2020-09-03 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this book is to incorporate Marshallian ideas such as external increasing returns and monopolistic competitions into the general equilibrium framework of Walrasian tradition. New chapters and sections have been added to this revised and expanded edition of General Equilibrium Analysis of Production and Increasing Returns (World Scientific, 2009).The new material includes a presentation of equilibrium existence and core equivalence theorems for an infinite horizon economy with a measure space of consumers. These results are currently the focus of extensive studies by mathematical theorists, and are obtained by an application of an advanced mathematical concept called saturated (super-atomless) measure space.The second major change is the inclusion of a simple toy model of a liberal society which implements the difference principle proposed by J Rawls as a principle of distributive justice. This new section opens up a possibility to connect theoretical economics and political philosophy.Thirdly, the author presents the marginal cost pricing equilibrium and discusses welfare properties of the external increasing returns, which also belong to Marshall/ Pigou tradition of the Cambridge school.Finally, a new mathematical appendix treats basics of singular homology theory. Although the fixed point theorem is originally a theorem of algebraic topology, most economic students know its proof only in the context of the differentiable manifold theory presented by J Milnor. Considering the significance of the fixed point theorem and its playing a key role in general equilibrium theory, the purpose of this new appendix is to provide readers with the idea of a proof of Brower's fixed point theorem from the 'right place'.This volume will be helpful for graduate students and researchers of mathematical economics, game theory, and microeconomics.
Author : Patrick M. Emerson
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (123 download)
Download or read book Intermediate Microeconomics written by Patrick M. Emerson and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert E. Kuenne
Publisher : Springer
ISBN 13 : 1349127523
Total Pages : 514 pages
Book Rating : 4.3/5 (491 download)
Download or read book General Equilibrium Economics written by Robert E. Kuenne and published by Springer. This book was released on 1992-06-18 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of published papers in general equilibrium that explore the basic problems of extensive interdependence in models incorporating oligopoly, space, time and money. Robert E. Kuenne has also written "The Theory of General Economic Equilibrium".
Author : T. N. Srinivasan
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (318 download)
Download or read book Price Normalization and Equilibria in General Equilibrium Models of International Trade Under Imperfect Conditions written by T. N. Srinivasan and published by . This book was released on 1994 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Antonio Villar
Publisher : Springer Science & Business Media
ISBN 13 :
Total Pages : 184 pages
Book Rating : 4.:/5 (321 download)
Download or read book General Equilibrium with Increasing Returns written by Antonio Villar and published by Springer Science & Business Media. This book was released on 1996 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph provides a formal and systematic exposition of the main results on the existence and optimality of equilibria in economies with increasing returns to scale. For that, a general equilibrium model is carefully constructed first by means of a precise formalization of consumers and firms, and the proof of an abstract existence result. The analysis shifts then to the study of specific normative and positive models which are particularizations the general one, and to the study of the efficiency of equilibrium allocations. The book provides an unified approach of the topic, it maintains a relatively low mathematical complexity and offers a highly self-contained exposition.
Author : Antonio Villar
Publisher : Springer Science & Business Media
ISBN 13 : 3642596703
Total Pages : 283 pages
Book Rating : 4.6/5 (425 download)
Download or read book Equilibrium and Efficiency in Production Economies written by Antonio Villar and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a substantially revised and enlarged version of the monograph General Equilibrium with Increasing Returns, published by Springer-Verlag as a Lecture Notes volume in 1996. It incorporates new topics and the most recent developments in the field. It also provides a more systematic analysis of the differences between production economies with and without convex production sets. Five out of twelve chapters are new, and most of the remaining ones have been reformulated. An outline of contents appears in chapter 1. As its predecessor, this book contains a formal and systematic exposition of the main results on the existence and efficiency of equilibrium, in production economies where production sets need not be convex. There is an explicit attempt at making of it a suitable reference both for graduate students and researchers interested in theory (not necessarily specialists in mathematical economics). With this twofold purpose in mind, the work has been written according to three key principles: (i) To provide a uhified approach to the problems involved. For that we construct a basic model that is rich enough to encompass the different models appearing throughout, and to derive all the results as coroilaries of a reduced number of general theorems. (ii) To maintain a relatively low mathematical complexity. Thus, when the estimated cost of generality exceeds the benefit of simplicity, we shall state and prove the theorems under assumptions that need not be the most general ones.
Author : Hayo Reinders
Publisher : Springer
ISBN 13 : 1349198021
Total Pages : 357 pages
Book Rating : 4.3/5 (491 download)
Download or read book General Equilibrium written by Hayo Reinders and published by Springer. This book was released on 1989-03-01 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an excerpt from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This extract concentrates on the topic of general equilibrium.
Author : Charalambos D. Aliprantis
Publisher : Springer Science & Business Media
ISBN 13 : 3662218933
Total Pages : 294 pages
Book Rating : 4.6/5 (622 download)
Download or read book Existence and Optimality of Competitive Equilibria written by Charalambos D. Aliprantis and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph is a systematic exposition of the authors' research on general equi librium models with an infinite number of commodities. It is intended to serve both as a graduate text on aspects of general equilibrium theory and as an introduction, for economists and mathematicians working in mathematical economics, to current research in a frontier area of general equilibrium theory. To this end, we have pro vided two introductory chapters on the basic economic model and the mathematical framework. The exercises at the end of each section complement the main exposition. Chapter one is a concise but substantiative discussion of the questions of exis tence and optimality of competitive equilibria in the Walrasian general equilibrium model of an economy with a finite number of households, firms and commodities. Our extension of this model to economies with an infinite number of commodities constitutes the core material of this book and begins in chapter three. Readers fa miliar with the Walrasian general equilibrium model as exposited in (13], [23] or [52] may treat chapter one as a handy reference for the main economic concepts and notions that are used throughout the book.
Author :
Publisher :
ISBN 13 : 9814470864
Total Pages : pages
Book Rating : 4.8/5 (144 download)
Download or read book General Equilibrium written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
