Results 331 to 340 of about 3,149,567 (372)

Singularity Theory and General Equilibrium

2004
In Chap. 5 we introduce the fundamental result in singularity theory, that the set of singularity points of a smooth preference profile almost always has a particular geometric structure. We then go on to use this result to discuss the Debreu-Smale Theorem on the generic existence of regular economies. Section 5.4 uses an example of Scarf (Int.
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General Equilibrium Theory

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

1992
Testing GE theory It was Leon Walras in 1874 who first suggested that the maximizing behavior of consumers and producers can and, under certain conditions, will result in an equilibrium between amounts demanded and supplied in every product and factor market of the economy.
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Equivariant general equilibrium theory

Journal of Economic Theory, 1990
Abstract The main purpose of this paper is to investigate the properties of a version of the general equilibrium model where symmetry considerations are explicitely taken into account. This version, called the equivariant model, is shown to be a natural framework to study sunspot equilibria. The problem of sunspot equilibria can then be viewed as one
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General Equilibrium Theory in the Twenty-First Century

, 1991
General equilibrium theory clarifies how the social economy works. Given the complexity of the society, each general equilibrium theory model has so far dealt with only a few facets of the society.
M. Morishima
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General Equilibrium Theory and No-Arbitrage

2017
This 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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Beyond general equilibrium theory

2021
After introducing General Equilibrium Theory, we present some applications and shed critical light on GET. We begin by a presentation of envy freeness in the next section. We then present the jungle economy, a Pareto efficient but nasty alternative to GET.
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Advances in General Equilibrium Theory

1997
Advances in General Equilibrium Theory presents a new approach to the construction of general equilibrium models. It considers the methods that should be adapted and some of the principal subjects with which general equilibrium modelling should be concerned in order to convert it into a useful body of knowledge.
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General Workplace-Equilibrium Theory

SSRN Electronic Journal, 2009
General workplace-equilibrium theory provides a nonspecific solution to a model of employee-employer rational choice in the circumstance of technological heterogeneities. It shares a critical characteristic with the ubiquitous friction-augmented, dynamic stochastic general market equilibrium analysis.
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General Equilibrium Theory, But Better

SSRN Electronic Journal, 2018
I construct a general, game theoretic model of markets. Agents in the model choose how much of each good to supply/demand, and at what prices. Trading can occur at non-market-clearing prices. There is an explicit rationing mechanism that kicks in if markets fail to clear. The game is very complicated, but a massive simplification occurs in the limit of
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