Download or read book Existence and Optimality of Competitive Equilibria written by Charalambos D. Aliprantis and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph is a systematic exposition of the authors' research on general equi librium models with an infinite number of commodities. It is intended to serve both as a graduate text on aspects of general equilibrium theory and as an introduction, for economists and mathematicians working in mathematical economics, to current research in a frontier area of general equilibrium theory. To this end, we have pro vided two introductory chapters on the basic economic model and the mathematical framework. The exercises at the end of each section complement the main exposition. Chapter one is a concise but substantiative discussion of the questions of exis tence and optimality of competitive equilibria in the Walrasian general equilibrium model of an economy with a finite number of households, firms and commodities. Our extension of this model to economies with an infinite number of commodities constitutes the core material of this book and begins in chapter three. Readers fa miliar with the Walrasian general equilibrium model as exposited in (13], [23] or [52] may treat chapter one as a handy reference for the main economic concepts and notions that are used throughout the book.
Download or read book On the Existence of Optimal Competitive Equilibria in the Overlapping generations Model written by Teodoro Millan and published by . This book was released on 1981 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On the Existence and Optimality of Competitive Equilibria in Nonrenewable Resource Industries written by Anthony C. Fisher and published by . This book was released on 1989 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Competitive Equilibrium written by Bryan Ellickson and published by Cambridge University Press. This book was released on 1993 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book General Equilibrium Analysis written by Monique Florenzano and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: General Equilibrium Analysis is a systematic exposition of the Walrasian model of economic equilibrium with a finite number of agents, as formalized by Arrow, Debreu and McKenzie at the beginning of the fifties and since then extensively used, worked and studied. Existence and optimality of general equilibrium are developed repeatedly under different sets of hypothesis which define some general settings and delineate different approaches to the general equilibrium existence problem. The final chapter is devoted to the extension of the general equilibrium model to economies defined on an infinite dimensional commodity space. The objective of General Equilibrium Analysis is to give to each problem in each framework the most general solution, at least for the present state of art. The intended readers are graduate students, specialists and researchers in economics, especially in mathematical economics. The book is appropriate as a class text, or for self-study.
Download or read book On the Existence and Optimality of Equilibria in Lobbying Economics written by Jay S. Coggins and published by . This book was released on 1989 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Existence of Competitive Equilibria in Markets with a Continuum of Traders written by Robert J. Aumann and published by . This book was released on 1964 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is well known, and easy to establish, that there exist markets that do not have competitive equilibria, provided the traders do not have convex preferences--that is, that the set of commodity bundles preferred or indifferent to a given bundle is not always convex. It is proved, nevertheless, that in a market consisting of a continuum of traders, each one individually insignificant, there is always a competitive equilibrium, even when the preferences are not convex. (Author).
Download or read book General Equilibrium with Increasing Returns written by Antonio Villar and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book on general equilibrium in which firms are allowed to exhibit increasing returns to scale (more precisely, in which the convexity of production sets is not assumed). As such, it provides a full fledged general equilibrium model and analyzes the chief questions concerning existence and optimality. Increasing returns is a topic which many economists find it to be simultaneously very imponant, very difficult and very discouraging. It is very important because it refers to a well established technological phenomenon which is essentially incompatible with the functioning of competitive markets. It is very difficult because the standard concepts and tools for the analysis fail (in particular, the supply mappings are not well defined). It is very discouraging because the available models do not seem to solve the basic questions: Normative models where nonconvex firms follow marginal pricing do not achieve efficient outcomes, and positive models cannot incorporate monopolistic competition as a way of defming the behavior of those firms with increasing returns to scale. I would like to think that this monograph will contribute to show that "the increasing returns question" is neither too difficult nor too discouraging. Concerning the difficulty, it will be shown that the analysis can be carried out with essentially the same tools as those applicable to the standard competitive model. As for the relevance of the results available, let me point out the following.
Download or read book General Equilibrium with Price Making Firms written by T. Marschak and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Existence of Competitive Equilibrium written by and published by . This book was released on 1959 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Theory of Incomplete Markets written by Michael Magill and published by MIT Press. This book was released on 2002 with total page 566 pages. Available in PDF, EPUB and Kindle. Book excerpt: Theory of incompl. markets/M. Magill, M. Quinzii. - V.1.
Download or read book Existence of a Competitive Equilibrium written by Donald J. Brown and published by . This book was released on 1972 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On the Modelling of Stock Market Economies written by Jean-François Dreyfus and published by . This book was released on 1984 with total page 77 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 Existence of an Equilibrium for a Competitive Economy written by Kenneth Joseph Arrow and published by . This book was released on 1954 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Equilibrium Welfare and Uncertainty written by Mukul Majumdar and published by . This book was released on 2009 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the fundamental themes in economic theory is the study of the role of prices in achieving an optimal allocation of resources in a competitive, decentralized economy. The book begins with a review of the basic results on the rigorous elaboration of the Walras-Pareto theory (following the lead of Arrow and Debreu) in the context of a static economy with many agents. It summarizes some subsequent research in which the limits of the price-mechanism as a successful coordination device are recognized. When economic activity is allowed with no pre-assigned terminal period, the two fundamental theorems linking competitive equilibrium allocations to Pareto optimality are challenged and the question of decentralization is carefully re-examined. With incomplete markets, and sequential trading, the concept of a Radner equilibrium is next introduced, and some of the striking properties of this are summarized. In a large economy with random shocks to preferences and/or endowments of individual agents, the implications of the celebrated laws of probability theory are explored. This book provides a clear and comprehensive analysis of the efficiency properties of general equilibrium, with many agents and an expanded list of commodities. It will be of particular interest to postgraduate and doctorate students of economic theory as well as scholars on Walrasian equilibrium, Pareto optimality and uncertainty theories.
Download or read book On the Classical Theorem on Existence of Competitive Equilibrium written by and published by . This book was released on 1998 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
