Download or read book Temporary competitive equilibrium under uncertainty written by Dieter Sondermann and published by . This book was released on 1971 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Competitive Equilibrium Under Uncertainty written by Roy Radner and published by . This book was released on 1965 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper represents an application of the modern theory of competitive equilibrium to the case of uncertainty. Two theorems are presented: the first sets forth sufficient conditions for the existence of a competitive equilibrium for the case in which each economic agent has a given structure of information available and the second sets forth sufficient conditions for the existence of a competitive equilibrium for the case in which any available structure of information may be used. However, if the costs of obtaining information are included in the analysis, the conditions of the theorem may not be met. This is also true if the costs necessary to perform computations are included. In addition if part of the information available to economic agents concerns the behavior of other agents rather than concerning environmental variables, the conditions of the theorem may not be fulfilled. (Author).

Download or read book Allocation under Uncertainty Equilibrium and Optimality written by Jacques H Drèze and published by Springer. This book was released on 1965-01-01 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Temporary Competitive Equilibrium and the Existence of Self fulfilling Expectations written by James Schuyler Jordan and published by . This book was released on 1975 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Temporary Monetary Equilibrium Theory written by Kuan-Pin Lin and published by Routledge. This book was released on 2017-04-28 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title, first published in 1984, considers a temporary monetary equilibrium theory under certainty in a differentiable framework. Using the techniques of differential topology the author investigates the structure of the set of temporary monetary equilibria. Temporary Monetary Equilibrium Theory: A Differentiable Approach will be of interest to students of monetary economics.

Download or read book Stationary Temporary Equilibrium in a General Model of Optimal Accumulation and Trade written by Manjira Datta and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the movement of market-clearing prices in an intertemporal general equilibrium framework and, in particular, proves the existence of a stationary temporary equilibrium. A model of a competitive economy is developed which consists of several "small" countries engaged in consumption, production and trade. Following Hicks, one way to look at the evolution of an economic system is to view it as a succession of temporary competitive equilibria. The aspect of stationarity is interesting because if the sequence of temporary equilibria converges to a steady-state, it must converge to a stationary temporary equilibrium. A linear-logarithmic economy exhibits convergence.

Download or read book Exploring General Equilibrium written by Fischer Black and published by MIT Press. This book was released on 1995 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: The general equilibrium approach, Black asserts, can be used to explain most of the economy's behavior. It can explain business cycles and growth without using sticky prices, irrationality, economies of scale, or imperfect competition. It can explain the volatility of consumption, output, sales, investment, and inventories with axiomatic utility and constant-returns-to-scale production. It can explain temporary layoffs, job changes with and without intervening unemployment, and the behavior of vacancies. It can explain lower wages in part-time jobs, wages that increase rapidly with time on the job, and the forces that cause migration from poor to rich countries. Although the general equilibrium approach cannot be tested in conventional ways, it can be used to generate examples that explain stylized facts - generalized observations from the real world - that have preoccupied macroeconomists for the last decade. Black contrasts his interpretation of these facts with conventional views. Finally, he reviews a substantial body of literature on these topics.

Download or read book On the Temporary Competitive Equilibrium written by Jean-Michel Grandmont and published by . This book was released on 1971 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Market Uncertainty and Competitive Equilibrium Entry written by Elie Appelbaum and published by . This book was released on 1991 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book On the Temporary Equilibrium of a Non monetary Production Economy Under Price Uncertainty written by Sŭng-hun Yi and published by . This book was released on 1976 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Economic Behavior Under Uncertainty written by Michael Balch and published by . This book was released on 1974 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Temporary Equilibrium written by Jean-Michel Grandmont and published by . This book was released on 1988 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: The collection of journal articles reproduced in this volume provides a synthesis of the progress made in the last 15 years in the theory of temporary equilibrium. Key Features * Decision making * Competitive assets markets * Models of money * Deterministic dynamics * Stochastic processes * Quantity rationing

Download or read book GENERAL COMPETITIVE EQUILIBRIUM TIME AND UNCERTAINTY written by Heracles M. POLEMARCHAKIS and published by . This book was released on 1994 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Some Aspects of the Foundations of General Equilibrium Theory written by P.J. Kalman and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a wide number of economic problems the equilibrium values of the variables can be regarded as solutions of a parametrized constrained maximization problem. This occurs in static as well as dynamic models; in the latter case the choice variables are often paths in certain function spaces and thus can be regarded as points in infinite dimensional spaces. It is sometimes possible to determine qualitative properties of the solutions with respect to changes in the parameters of the model. The study of such properties is often called comparative statics; [15], [2], and [10]. Certain comparative static properties of the maxima have proven to be of particular importance for economic theory, since the works of Slutsky, Hicks, and Samuelson [15]: they have been for- lated in terms of synunetry and negative semidefiniteness of a matrix, called the Slutsky-Hicks-Samuelson matrix. A discussion of this matrix and its applications is given in Section 1. The study of these properties in economic theory, however, has so far been restricted to static models where the choice variable and the parameters are elements in Euclidean spaces, and where there is only one constraint.

Download or read book The Microeconomic Foundations of Macroeconomics written by G.C. Harcourt and published by Routledge. This book was released on 2019-03-13 with total page 413 pages. Available in PDF, EPUB and Kindle. Book excerpt: This discourse on the conference proceedings unveils Sir John Hicks's efforts to discuss capital/income family of concepts with their principal characteristics of inter-temporality. Papers on capital, profits, the concept of invariant capital stock and Kaleckian theory of investment are discussed.

Download or read book Existence and Optimality of a General Equilibrium with Endogenous Uncertainty written by Graciela Chichilnisky and published by . This book was released on 2009 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Kenneth Arrow once said that uncertainty about prices may be the most important form of economic uncertainty. Yet tI1e treatment of uncertainty in Arrow-Debreu markets reflects only nature's moves. It therefore neglects price uncertainty, because prices depend on human behavior. This chapter attempts to close the gap. It defines a new concept of general equilibrium in markets where traders are uncertain about prices, and proves the existence of such an equilibrium. Traders do not know the possible equilibrium prices a priori. The state space which represents price uncertainty, and the financial instruments used to hedge this uncertainty, are all defined endogenously as part of a market equilibrium. To motivate the problem,I show in Proposition 1 that trying to hedge price uncertainty within an Arrow-Debreu framework leads to paradoxical outcomes, which are connected with Russell's paradox in logics. Thus a new framework is needed.

Download or read book Essays on Economic Decisions Under Uncertainty written by Jacques Drèze and published by CUP Archive. This book was released on 1990-05-25 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: Professor Dreze is a highly respected mathematical economist and econometrician. This book brings together some of his major contributions to the economic theory of decision making under uncertainty, and also several essays. These include an important essay on 'Decision theory under moral hazard and state dependent preferences' that significantly extends modern theory, and which provides rigorous foundations for subsequent chapters. Topics covered within the theory include decision theory, market allocation and prices, consumer decisions, theory of the firm, labour contracts, and public decisions.