Download or read book Anti equilibrium written by János Kornai and published by Elsevier Science & Technology. This book was released on 1972 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Concept of Equilibrium in Different Economic Traditions written by Bert Tieben and published by Edward Elgar Publishing. This book was released on 2012-07-01 with total page 689 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Bert Tieben is very well read in the history of economic thought and provides an overview of one of the basic concepts of economics that is unrivalled both in its scope and in its thoughtful and detailed discussion of the various currents and schools. It goes right to the heart of economic theory and asks some pertinent questions about the limits and the future of economic theorizing. That is, I think, what sets it apart from many other studies in the history of economic thought: it is history with an eye to the future, and it does all this without making any demands on the mathematical skills of the reader. This book should therefore appeal to everybody who is interested in the methodology of economics and in exploring the boundaries of economic analysis.' Hans Visser, VU University, Amsterdam, The Netherlands This book deals with one of the most puzzling concepts in economic science, that of economic equilibrium. In modern economics, equilibrium is considered a key assumption, but its role is contested by economists both from within the mainstream and from rival schools of thought. What explains the contradictory assessments of the equilibrium concept in economics? Do economists belonging to different traditions disagree about the definition of equilibrium or do they adopt different rules for assessing scientific status? In this unique and exhaustive study, Bert Tieben answers these questions by investigating the history of equilibrium economics from 1700 to the present day. He concludes that ideology strongly coloured the development of this branch of theory, helping to explain the vehemence of the debates surrounding the concept. He also argues that scientific progress in economics may indeed be fostered by such opposition and contention, and calls for cross fertilization and stronger cooperation between the different schools of thought. This resourceful book will appeal to post graduate students and scholars in the history of economic thought and economic methodology. Both neoclassical and heterodox economists, most notably Austrian, post Keynesian and institutional economists, will also find much to interest them.
Download or read book Equilibrium and Disequilibrium in Economic Theory written by G. Schwödiauer and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 768 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is the result of a conference held at the Institute for Advanced Studies, Vienna. There is still a gap reflected both in fundamental meth odological differences and in the style of analysis between the Walrasian (and Edgeworthian) tradition of general equilibrium theory and the theo retical and policy problems raised in the framework of Keynesian and post-Keynesian macroeconomics. The conference succeeded in bringing together economic theorists working in fields ranging from abstract prob lems of mathematical equilibrium analysis to applied macroeconomic theory, and it is hoped that the present volume will contribute to bridging the above-mentioned hiatus. As organizer of the meeting and editor of its proceedings I want to thank the Institute for Advanced Studies for providing facilities and funds. I am also sincerely grateful to all my colleagues from the Institute for their generous help, in particular to Mrs Monika Herkner without whose assistance and organizational talent the conference would certainly not have been the success it in fact - in the opinion of all participants - turned out to have been. Furthermore, I wish to express my gratitude towards all participants in the meeting and contributors to the volume whose patient support of the whole enterprise proved indispensable. To Mrs Elfriede Auracher I am deeply indebted for her skillful and effective general management of the editorial work and her invaluable assistance in compiling the indexes.
Download or read book Finding Equilibrium written by Till Düppe and published by Princeton University Press. This book was released on 2014-07-21 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: The remarkable story and personalities behind one of the most important theories in modern economics Finding Equilibrium explores the post–World War II transformation of economics by constructing a history of the proof of its central dogma—that a competitive market economy may possess a set of equilibrium prices. The model economy for which the theorem could be proved was mapped out in 1954 by Kenneth Arrow and Gerard Debreu collaboratively, and by Lionel McKenzie separately, and would become widely known as the "Arrow-Debreu Model." While Arrow and Debreu would later go on to win separate Nobel prizes in economics, McKenzie would never receive it. Till Düppe and E. Roy Weintraub explore the lives and work of these economists and the issues of scientific credit against the extraordinary backdrop of overlapping research communities and an economics discipline that was shifting dramatically to mathematical modes of expression. Based on recently opened archives, Finding Equilibrium shows the complex interplay between each man's personal life and work, and examines compelling ideas about scientific credit, publication, regard for different research institutions, and the awarding of Nobel prizes. Instead of asking whether recognition was rightly or wrongly given, and who were the heroes or villains, the book considers attitudes toward intellectual credit and strategies to gain it vis-à-vis the communities that grant it. Telling the story behind the proof of the central theorem in economics, Finding Equilibrium sheds light on the changing nature of the scientific community and the critical connections between the personal and public rewards of scientific work.
Download or read book Equilibrium in Economics written by Valeria Mosini and published by Routledge. This book was released on 2008-01-07 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: General Equilibrium Theory, which became the dominating paradigm after the Second World War, is founded on the postulated existence, uniqueness, and stability of equilibrium in economic processes. Since then, the concept has come under sustained attack from all points of the heterodox compass, from Austrian economists to Marxists. Partly in response to these pressures, mainstream economics has changed and moved away from the rigid framework of GET. Nonetheless, economists are continually arguing in terms of equilibrium and the existence of a variety of equilibrium concepts continues to stir controversy. The contributions in this book, which include articles from Tony Lawson, Ivor Grattan-Guinness and Roger Backhouse, highlight current notions of equilibrium in economics and provide a guide to understanding the links between economic theory and economic reality.
Download or read book On the Notion of Equilibrium in Economics written by F. H. Hahn and published by Cambridge University Press. This book was released on 1973-06-07 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Lingen Equilibrium Model written by Hermann Witte and published by LIT Verlag. This book was released on 2021-01-11 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Equilibria protect against crisis. All disciplines of sciences have the objective to create equilibria. But economics are not successful in this point. Here a simple equilibrium model based on a wage-price-rule is demonstrated. Economics are able to create economic equilibria by using this rule. But in economic systems there are a lot of rules, especially in accounting, which make economic equilibria impossible. These rules must be changed. If it is possible to create economic equilibria, the side-effect is the realization of economic sustainability. Dr. Hermann Witte, Professor of Business Administration, Logistics and Environmental Economics, University of Applied Sciences Osnabruck, Campus Lingen, Institute of Management and Technology.
Download or read book Introduction to Computable General Equilibrium Models written by Mary E. Burfisher and published by Cambridge University Press. This book was released on 2016 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a hands-on introduction to computable general equilibrium (CGE) models, written at an accessible, undergraduate level.
Download or read book Equilibrium versus Understanding written by Mark Addleson and published by Routledge. This book was released on 1995-09-28 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Equilibrium versus Understanding argues that neo-classical theory is incapable of explaining or understanding human conduct. The author asserts that a different sort of economic theory is required and proposes a hermeneutic one. The book presents a comprehensive description and analysis of the methodologies involved, ultimately rejecting the positi
Download or read book The Notion of Equilibrium in the Keynesian Theory written by Mario Sebastiani and published by Springer. This book was released on 2016-07-27 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the reasons which make the Keynesian controversy still so live, is the missing distinction between aspects concerning methodology and others pertaining to theory. Another cause of the ongoing debate is to be found in unsettled problems concerning methodology, in primis the concept the equilibrium. Nor could the situation have been different, given, on the one hand, Keynes's manifest disaffection with these matters (especially in The General Theory) and, on the other hand, their implications as regards Keynesian economic theory and policy. The aim of this volume ensues from this analysis; accordingly, a wide spectrum of questions of method are considered and different interpretations of Keynes's approach in this field are taken into consideration.
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 Equilibrium and Evolution written by Brian J. Loasby and published by Manchester University Press. This book was released on 1991 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work, based upon the two Manchester Special Lectures given by the author in 1989-90, and focusing on the central economic issues of co-ordination and change, treats these as problems of equilibrium in the case of co-ordination and as problems of evolution in the case of change.
Download or read book Political Equilibrium A Delicate Balance written by Peter C. Ordeshook and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: Peter C. Ordeshook and Kenneth A. Shepsle If the inaugural date of modern economics is set at 1776 with the publication of Adam Smith's The Wealth of Nations, then the analytical tradition in the study of politics is not even a decade younger, commencing nine years later with the publication of the Marquis de Condorcet's Essai sur l'application de l'analyse iz la probabilite des decisions rendues iz la pluralite des voix. The parallel, however, stops there for, unlike Smith and other classical economists who laid an intel lectual foundation upon which a century of cumulative scientific research pro ceeded, analytical political science suffered fits and starts. Condorcet, himself, acknowledges the earlier work (predating the Essai by some fourteen years) of Borda and, from time to time during the nineteenth century, their contributions were rediscovered by Dodgson, Nanson, and other political philosophers and arithmeticians. But, by century's end, there was nothing in political science to compare to the grand edifice of general equilibrium theory in neoclassical eco nomics. Despite roots traversing two centuries, then, the analytical study of poli tics is a twentieth-century affair. The initial inspiration and insight of Condorcet was seized upon just after World War II by Duncan Black, who wrote several papers on the equilibrium properties of majority rule in specific contexts (Black, 1948a, b). He expanded upon these themes in his now deservedly famous monograph, The Theory of xi PREFACE xii Committees and Elections, and the lesser-known essay with R.A.
Download or read book General Equilibrium Theory written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-03-26 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is General Equilibrium Theory In economics, the general equilibrium theory seeks to explain the behavior of supply, demand, and prices in a whole economy that contains several or many markets that interact with one another. This is accomplished by attempting to demonstrate that the interaction of demand and supply will result in an overall general equilibrium. The theory of general equilibrium stands in contrast to the theory of partial equilibrium, which performs an analysis of a particular component of an economy while maintaining the status quo for all other aspects of the economy. Constant influences are deemed to be noneconomic, or, to put it another way, thought to be beyond the scope of economic study, when the economy is described as being in general equilibrium. The noneconomic impacts, on the other hand, are subject to change in response to changes in the economic factors; hence, the accuracy of the forecast made by an equilibrium model may be contingent on the independence of the economic components from the noneconomic ones. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: General equilibrium theory Chapter 2: Neoclassical economics Chapter 3: Perfect competition Chapter 4: Léon Walras Chapter 5: Welfare economics Chapter 6: Gérard Debreu Chapter 7: Edgeworth box Chapter 8: Arrow-Debreu model Chapter 9: Fundamental theorems of welfare economics Chapter 10: Walrasian auction Chapter 11: Walras's law Chapter 12: David Cass Chapter 13: Sonnenschein-Mantel-Debreu theorem Chapter 14: Lionel W. McKenzie Chapter 15: Competitive equilibrium Chapter 16: Mathematical economics Chapter 17: Roy Radner Chapter 18: Jacques Drèze Chapter 19: Disequilibrium macroeconomics Chapter 20: Excess demand function Chapter 21: Abstract economy (II) Answering the public top questions about general equilibrium theory. (III) Real world examples for the usage of general equilibrium theory in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of General Equilibrium Theory.
Download or read book Anti Piketty written by Jean-Philippe Delsol and published by Cato Institute. This book was released on 2017-03-01 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thomas Piketty's book Capital in the Twenty-First Century has enjoyed great success and provides a new theory about wealth and inequality. However, there have been major criticisms of his work. Anti-Piketty: Capital for the 21st Century collects key criticisms from 20 specialists—economists, historians, and tax experts—who provide rigorous arguments against Piketty's work while examining the notions of inequality, growth, wealth, and capital.
Download or read book Equilibrium Moisture Content of Wood in Outdoor Locations in the United States and Worldwide written by William Turner Simpson and published by . This book was released on 1998 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: With relative humidity and temperature data from the National Oceanic and Atmospheric Administration, the average equilibrium moisture content for each month of the year was calculated for 262 locations in the United States and 122 locations outside the United States. As an aid for storage of kiln-dried lumber, a graph is presented for determining the reduction in equilibrium moisture content that results from heating air in an enclosed storage space above the temperature of the outside air.
Download or read book Models in Microeconomic Theory written by Martin J. Osborne and published by Open Book Publishers. This book was released on 2023-06-26 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: Models in Microeconomic Theory covers basic models in current microeconomic theory. Part I (Chapters 1-7) presents models of an economic agent, discussing abstract models of preferences, choice, and decision making under uncertainty, before turning to models of the consumer, the producer, and monopoly. Part II (Chapters 8-14) introduces the concept of equilibrium, beginning, unconventionally, with the models of the jungle and an economy with indivisible goods, and continuing with models of an exchange economy, equilibrium with rational expectations, and an economy with asymmetric information. Part III (Chapters 15-16) provides an introduction to game theory, covering strategic and extensive games and the concepts of Nash equilibrium and subgame perfect equilibrium. Part IV (Chapters 17-20) gives a taste of the topics of mechanism design, matching, the axiomatic analysis of economic systems, and social choice. The book focuses on the concepts of model and equilibrium. It states models and results precisely, and provides proofs for all results. It uses only elementary mathematics (with almost no calculus), although many of the proofs involve sustained logical arguments. It includes about 150 exercises. With its formal but accessible style, this textbook is designed for undergraduate students of microeconomics at intermediate and advanced levels.
