Existence and Optimality of Competitive Equilibria

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.

DOWNLOAD NOW »

Author: Charalambos D. Aliprantis

Publisher: Springer Science & Business Media

ISBN: 9783662218938

Category: Business & Economics

Page: 284

View: 314

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.

Existence and Optimality of Competitive Equilibria

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.

DOWNLOAD NOW »

Author: Charalambos D. Aliprantis

Publisher:

ISBN: 366221895X

Category: Economics, Mathematical

Page: 284

View: 176

This book presents the theory of general economic equilibrium from a modern perspective. It gives a systematic exposition of research done by the authors and others on the subject of general equilibrium theory over the last ten years. 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 make the material as accessible as possible to the student, the authors have provided two introductory chapters on the basic Arrow-Debreu economic model and the mathematical framework. Exercises at the end of each section complement the exposition. The monograph addresses the questions of existence and optimality of Walrasian equilibria for economies with a finite number of households and firms, but with an infinite number of commodities. The final chapter of the book presents a comprehensive study of the overlapping generations model. This is the first book to give a unified and mathematically rigorous presentation of the theory of general economic equilibrium.

Problems in Equilibrium Theory

At the graduate level there is no book devoted exclusively to teaching problem solving. This book teaches for the first time the basic methods of proof and problem solving in General Equilibrium Theory.

DOWNLOAD NOW »

Author: Charalambos D. Aliprantis

Publisher: Springer Science & Business Media

ISBN: 3540607536

Category: Business & Economics

Page: 248

View: 393

In studying General Equilibrium Theory the student must master first the theory and then apply it to solve problems. At the graduate level there is no book devoted exclusively to teaching problem solving. This book teaches for the first time the basic methods of proof and problem solving in General Equilibrium Theory. The problems cover the entire spectrum of difficulty; some are routine, some require a good grasp of the material involved, and some are exceptionally challenging. The book presents complete solutions to two hundred problems. In searching for the basic required techniques, the student will find a wealth of new material incorporated into the solutions. The student is challenged to produce solutions which are different from the ones presented in the book.

General Equilibrium with Increasing Returns

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).

DOWNLOAD NOW »

Author: Antonio Villar

Publisher: Springer Science & Business Media

ISBN: 9783662004579

Category: Business & Economics

Page: 166

View: 180

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.

Microeconomics

The first part of this book contains the material for a course in standard microeconomics and general equilibrium.

DOWNLOAD NOW »

Author: M.C. Blad

Publisher: Elsevier

ISBN: 9781483297644

Category: Business & Economics

Page: 433

View: 494

The first part of this book contains the material for a course in standard microeconomics and general equilibrium. These chapters contain the necessary background on commodities, consumers, producers, as well as the classical results about the existence of general (Walras) equilibria and the fundamentals of welfare theory. The second part of the book may be seen as a continuation dealing with more advanced topics. This textbook shows how the general equilibrium theory can be put into use to provide new insights into various fields of economic science. The reader does not need previous particular mathematical training; the formal approach is introduced in a piecemeal fashion, so that no difficult mathematics occurs in the beginning.

Social Science Working Paper

The proofs of the existence of a competitive equilibrium and the validity of the welfare theorems in Yudin exchange economies ... C. D. Aliprantis, D. J. Brown, and O. Burkinshaw, Existence and Optimality of Competitive Equilibria, ...

DOWNLOAD NOW »

Author:

Publisher:

ISBN: UIUC:30112037303077

Category: Social sciences

Page:

View: 467