Results 211 to 220 of about 102,364 (263)
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2021
1.1. Introductory remarks. Allocation of goods takes place in two different modes, the first of which being person-to-person. For example, voluntary exchange in a peaceful economy is person-to-person, making all agents better off (see pp. 385). Person-to-person does not necessarily imply face-to-face.
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1.1. Introductory remarks. Allocation of goods takes place in two different modes, the first of which being person-to-person. For example, voluntary exchange in a peaceful economy is person-to-person, making all agents better off (see pp. 385). Person-to-person does not necessarily imply face-to-face.
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money and general equilibrium theory
1987Taking general equilibrium theory to be the model introduced by its founder, the topic of money and general equilibrium theory is as old as the subject itself. In the Preface to the fourth edition of the Elements, Walras wrote: ‘Chiefly, however, it was my theory of money that underwent the most important chnges as a result of my research on the ...
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2018
This chapter deals with three subjects: general equilibrium, Pareto optimality, and welfare properties. Previous chapters assume exogenous prices, that is, consumers and producers take prices as given and choose their best actions based on their own budget/resource constraints.
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This chapter deals with three subjects: general equilibrium, Pareto optimality, and welfare properties. Previous chapters assume exogenous prices, that is, consumers and producers take prices as given and choose their best actions based on their own budget/resource constraints.
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1998
A model in which a number of consumers demand a number of goods from a number of producers, and where the quantities of production factors are given, is called a general equilibrium model. Such a model allows the study of how production factors are allocated if the consumer’s aim is utility maximization and the producer’s aim is profit maximization.
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A model in which a number of consumers demand a number of goods from a number of producers, and where the quantities of production factors are given, is called a general equilibrium model. Such a model allows the study of how production factors are allocated if the consumer’s aim is utility maximization and the producer’s aim is profit maximization.
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1979
In the preceding chapters we have adopted a partial equilibrium approach, concentrating on decisions in a particular segment of the economy in isolation of what was happening in other segments, under the ceteris paribus assumption.
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In the preceding chapters we have adopted a partial equilibrium approach, concentrating on decisions in a particular segment of the economy in isolation of what was happening in other segments, under the ceteris paribus assumption.
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2017
Here we briefly review the general equilibrium theory, which is pretty traditional: preference and the concept of ordinal utility, demand, and comparative statics, the definition of Arrow–Debreu equilibrium, Pareto efficiency, and welfare theorems, welfare comparison, and compensation principle, and incomplete asset markets.
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Here we briefly review the general equilibrium theory, which is pretty traditional: preference and the concept of ordinal utility, demand, and comparative statics, the definition of Arrow–Debreu equilibrium, Pareto efficiency, and welfare theorems, welfare comparison, and compensation principle, and incomplete asset markets.
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1997
General Equilibrium Theory: An Introduction presents the mathematical economic theory of price determination and resource allocation from elementary to advanced levels, suitable for advanced undergraduates and graduate students of economics. This Arrow–Debreu model (known for two of its most prominent founders, both Nobel Laureates) is the basis of ...
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General Equilibrium Theory: An Introduction presents the mathematical economic theory of price determination and resource allocation from elementary to advanced levels, suitable for advanced undergraduates and graduate students of economics. This Arrow–Debreu model (known for two of its most prominent founders, both Nobel Laureates) is the basis of ...
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Algorithmic foundations of computable general equilibrium theory
Applied Mathematics and Computation, 2006zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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General Equilibrium Theory and No-Arbitrage
2017This chapter deals with general equilibrium theory in a risky environment, where agents interact in a financial market. The chapter starts by presenting the notion of Pareto optimality and its implications in terms of risk sharing. The concept of rational expectations equilibrium is introduced and characterized in the context of a two-period economy ...
Emilio Barucci, Claudio Fontana
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