General Equilibrium With Price Making Firms

Author : T. Marschak,R. Selten
Publisher : Springer Science & Business Media
Page : 257 pages
File Size : 51,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642658020

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General Equilibrium with Price-Making Firms by T. Marschak,R. Selten Pdf

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 A. Marschak
Publisher : Unknown
Page : 74 pages
File Size : 41,5 Mb
Release : 1973
Category : Competition
ISBN : OCLC:15351490

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General Equilibrium with Price-making Firms by Thomas A. Marschak Pdf

Author : Thomas Marschak,Reinhard Selten
Publisher : Unknown
Page : 128 pages
File Size : 49,9 Mb
Release : 1974
Category : Electronic
ISBN : OCLC:883861018

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General Equilibrium with Price-making Firms by Thomas Marschak,Reinhard Selten Pdf

Author : Ross M. Starr
Publisher : Cambridge University Press
Page : 280 pages
File Size : 45,5 Mb
Release : 1997-07-13
Category : Business & Economics
ISBN : 0521564735

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General Equilibrium Theory by Ross M. Starr Pdf

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,Hans Haller
Publisher : Springer
Page : 186 pages
File Size : 55,7 Mb
Release : 2017-07-29
Category : Business & Economics
ISBN : 9783319605166

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Groups and Markets by Hans Gersbach,Hans Haller Pdf

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
Page : 492 pages
File Size : 41,7 Mb
Release : 2010
Category : Business & Economics
ISBN : 9789812818355

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General Equilibrium by W. D. A. Bryant Pdf

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 : Bryan Ellickson
Publisher : Cambridge University Press
Page : 424 pages
File Size : 44,6 Mb
Release : 1993
Category : Business & Economics
ISBN : 0521319889

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Competitive Equilibrium by Bryan Ellickson Pdf

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 : Robert Triffin
Publisher : Unknown
Page : 216 pages
File Size : 54,6 Mb
Release : 1962
Category : Competencia
ISBN : UCAL:B5137491

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Monopolistic Competition and General Equilibrium Theory by Robert Triffin Pdf

Author : Siamak Hadifar
Publisher : GRIN Verlag
Page : 34 pages
File Size : 49,9 Mb
Release : 2018-04-30
Category : Business & Economics
ISBN : 9783668694293

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The Walrasian General Equilibrium Theory by Siamak Hadifar Pdf

Essay from the year 2017 in the subject Economics - Micro-economics, grade: 2,0, University of Bratislava, language: English, abstract: The question about how the different economic units such as consumers, governments, and enterprises operate in a competitive markets und make the decisions under conditions of limited amounts of resources is a main subject of studies of the economic science. The lack of resources has turned into a vexed problem in recent years, while people’s desires keep increasing. In order to deal with such a conflict, these three basic questions should be answered by economic systems: What services and goods should be produced and in what quantities? How should these services and goods be produced? Who would be the end customers of such services und goods and how should these should be distributed? Microeconomic theory defines and models an economic activity as an interaction of individuals (economic agents) pursuing their private interests. Considering different microeconomic processes for better understanding the principles of the whole economy we are interested in how the goods are distributed among consumers within different markets. What condition markets’ outcomes, i.e. prices of goods and services and quantities traded, are agents’ behavioral characteristics and the market mechanisms, described of law of supply and demand. It is common to divide two large and groups of agents - households and firms, each of them plays its own role in the market.

Author : T. N. Srinivasan
Publisher : Unknown
Page : 30 pages
File Size : 54,8 Mb
Release : 1994
Category : Computer simulation
ISBN : UCSD:31822021769344

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Price Normalization and Equilibria in General Equilibrium Models of International Trade Under Imperfect Conditions by T. N. Srinivasan Pdf

Author : Antonio Villar
Publisher : Springer Science & Business Media
Page : 283 pages
File Size : 44,8 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642596704

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Equilibrium and Efficiency in Production Economies by Antonio Villar Pdf

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 : J. C. Baldry
Publisher : Lawbook Company
Page : 248 pages
File Size : 41,5 Mb
Release : 1980
Category : Business & Economics
ISBN : UOM:49015000899337

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General Equilibrium Analysis by J. C. Baldry Pdf

Good,No Highlights,No Markup,all pages are intact, Slight Shelfwear,may have the corners slightly dented, may have slight color changes/slightly damaged spine.

Author : Jean-Pascal Bénassy
Publisher : Unknown
Page : 272 pages
File Size : 50,8 Mb
Release : 1982
Category : Business & Economics
ISBN : STANFORD:36105037460743

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The Economics of Market Disequilibrium by Jean-Pascal Bénassy Pdf

Microeconomics; Market equilibrium and disequilib rium; Disequilibrium trading and quantity signals; Effective demand: A first approach; Effective demand and spillover effects; Price making; Non-Walrasian equilibrium concepts; The general framework; Fixprice equilibria; Expectations and temporary fixprice equilibria; Temporary equilibria with price makers; Efficiency; Macroeconomics; A model of unemployment; Unemployment and expectations; A model of unemployment with flexible price; A model of inflation.

Author : Hans Keiding
Publisher : World Scientific
Page : 447 pages
File Size : 49,8 Mb
Release : 2020-05-26
Category : Business & Economics
ISBN : 9789811214400

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Theory Of General Economic Equilibrium by Hans Keiding Pdf

This book provides a comprehensive introduction to general equilibrium theory, covering the standard topics as well as the developments of the theory over the past fifty years. This ensures that the reader gains a thorough account of what has been established both in pure theory and in applications.In addition to the basic topics, this book elaborates on fields which are relevant but not mentioned frequently in this context. The material covered includes international trade, growth, finance and implementation, and it offers a broader view than what is usual in texts on general equilibrium theory. This book would make for suitable reading for undergraduate and graduate courses in macroeconomics.

Author : Robert E. Kuenne
Publisher : Springer
Page : 514 pages
File Size : 54,5 Mb
Release : 1992-06-18
Category : Business & Economics
ISBN : 9781349127528

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General Equilibrium Economics by Robert E. Kuenne Pdf

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".