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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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Classical General Equilibrium Theory
, 2002Although general equilibrium theory originated in the late nineteenth century, modern elaboration and development of the theory began only in the 1930s and 1940s.
L. Mckenzie
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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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An Overview of General Equilibrium Theory
2011As economists we are usually interested in how production is organized and in how whatever is produced is eventually distributed among consumers. All these activities take place within specific institutions we know as markets. What condition markets’ outcomes, i.e.
Ana-Isabel Guerra +2 more
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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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General Equilibrium Theory of Land
2020Land is everywhere: the substratum of our existence. In addition, land is intimately linked to the dual concept of location in human activity. Together, land and location are essential ingredients for the lives of individuals as well as for national economies.
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General Equilibrium Theory — An Empirical Theory? [PDF]
, 1982 I) Two basic reasons seem to make dealing with the General Equilibrium Theory (GET) attractive for the philosopher of science. First, it is an axiomatic and mathematically demanding theory, a matter that facilitates the business of logical analysis.
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Transaction Costs in General Equilibrium Theory-A Survey
, 1975It has long been realized that the exchange of commodities is a costly activity, and that the recognition of such costs will play an important part in explaining certain economic phenomena. Let us consider three examples.
A. Ulph, D. Ulph
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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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Ricardos Economics: A General Equilibrium Theory of Distribution and Growth
, 1990Together with Marx's Economics and Walras' Economics this book completes a sequence by Professor Morishima on the first generation of scientific economists.
M. Morishima
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