Format:
1 Online-Ressource (xvi, 459 pages)
,
digital, PDF file(s)
ISBN:
9780511664502
Content:
Walras's Market Models describes and evaluates Léon Walras's models of competitive markets. Through identification of his career phases and the associated general equilibrium models, which are shown to be very different in character, this book differs from previous examinations of his work. During his mature phase of theoretical activity, Walras was concerned with a competitive economy which passes through a phase of disequilibrium in the production and sales of commodities. While in his last phase of theoretical activity, he developed a model in which there is no production, sales, hiring, consuming or saving until an assumed set of equilibrium prices obtains of the model. The two phases of Walras's theoretical work have not previously been identified, and the models have not been subjected to an accurate analysis and evaluation
Content:
1. Walras's conception of a competitive market economy -- 2. The mature models: Not a normative scheme -- 3. The mature models of the barter of stocks of commodities -- 4. Institutions and participants in the model of monetary oral pledges markets -- 5. Disequilibrium and equilibrium in the model of monetary oral pledges markets -- 6. The structure of the mature nondurable consumer commodities model -- 7. The equilibrating processes in the mature nondurable consumer commodities model -- 8. The structure of the mature comprehensive model -- 9. The equilibrating processes in the mature comprehensive model -- 10. Walras and his critics on the maximum utility of new capital goods -- 11. The mature models of the money market -- 12. Iteration in the mature model of tatonnement -- 13. The mature model of the behavior of the entrepreneur -- 14. Walras versus Edgeworth on tatonnement processes -- 15. The structure of the barter model of written pledges markets
Note:
Title from publisher's bibliographic system (viewed on 05 Oct 2015)
Additional Edition:
ISBN 9780521562683
Additional Edition:
ISBN 9780521022958
Additional Edition:
Print version ISBN 9780521562683
Language:
English
DOI:
10.1017/CBO9780511664502
URL:
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