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Imperfect General Equilibrium
Pier C. Nicola
€ 62.90
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Description for Imperfect General Equilibrium
Paperback. This monograph presents a new approach to general disequilibrium analysis which uses illustrations to chart the time-paths of prices and quantities. Series: Lecture Notes in Economics and Mathematical Systems. Num Pages: 178 pages, biography. BIC Classification: KCA. Category: (P) Professional & Vocational; (UP) Postgraduate, Research & Scholarly. Dimension: 234 x 156 x 10. Weight in Grams: 294.
Economic theory of the last fifty years has been dominated by the paradigm of General Equilibrium Theory, based on the scientific work of Walras-Pareto-Cassel-Wald-Hicks-Arrow-De breu-McKenzie. Some of its grounding assumptions are: all prices are fully flexible; an auctioneer appropriately manipulates all prices according to the law of supply and demand; every con sumer has only one budget constraint; all agents are perfectly informed; no actions are taken by agents before a vector of prices has been found such that all markets clear. Indeed, when all markets clear every agent can implement her/his chosen (opti mal) action and nobody is urged ... Read more
Economic theory of the last fifty years has been dominated by the paradigm of General Equilibrium Theory, based on the scientific work of Walras-Pareto-Cassel-Wald-Hicks-Arrow-De breu-McKenzie. Some of its grounding assumptions are: all prices are fully flexible; an auctioneer appropriately manipulates all prices according to the law of supply and demand; every con sumer has only one budget constraint; all agents are perfectly informed; no actions are taken by agents before a vector of prices has been found such that all markets clear. Indeed, when all markets clear every agent can implement her/his chosen (opti mal) action and nobody is urged ... Read more
Product Details
Format
Paperback
Publication date
1994
Publisher
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Germany
Number of pages
178
Condition
New
Series
Lecture Notes in Economics and Mathematical Systems
Number of Pages
167
Place of Publication
Berlin, Germany
ISBN
9783540581024
SKU
V9783540581024
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
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