Description 
1 online resource (xxix, 348 pages) : illustrations 
Contents 
Concept and history of general equilibrium theory  An elementary general equilibrium model: the Robinson Crusoe economy  The Edgeworth box  Integrating production and multiple consumption decisions: A2 x 2 x 2 model  Existence of general equilibrium in an economy with an excess demand function  Logic and set theory  RN: real Ndimensional Euclidean space  Convex sets, separation theorems, and nonconvex sets in RN  The Brouwer fixedpoint theorem  Markets, prices, commodities, and mathematical economic theory  Production with boundedfirm technology  Households  A market economy  General equilibrium of the market economy with an excess demand function  Theory of production: the unbounded technology case  Households: the unbounded technology case  A market economy: the unbounded technology case  General equilibrium of the market economy: the unbounded technology case  Pareto efficiency and competitive equilibrium  Time and uncertainty: futures markets  The core of a market economy  Convergence of the core of a large economy  Mathematics: analysis of pointtoset mappings  General equilibrium of the market economy with an excess demand correspondence  Ushaped cost curves and concentrated preferences  Next steps 
Summary 
"General Equilibrium Theory: An Introduction presents the mathematical economic theory of price determination and resource allocation from elementary to advanced levels, suitable for advanced undergraduates and graduate students of economics. This ArrowDebreu model (known for two of its most prominent founders, both Nobel Laureates) is the basis of modern price theory and of a wide range of applications. The text starts with elementary models: Robinson Crusoe, the Edgeworth Box, and a 2commodity 2household 2firm model. It gives a brief introduction to the mathematics used in the field (continuity, convexity, separation theorems, Brouwer fixedpoint theorem, pointtoset mappings, and ShapleyFolkman theorem). It then presents the mathematical general equilibrium model in progressively more general settings, including pointvalued, setvalued, and nonconvex setvalued demand and supply. Existence of general equilibrium, fundamental theorems of welfare economics, core convergence, and futures markets with time and uncertainty are treated fully. The new edition updates discussion throughout and expands the number and variety of exercises. It offers a revised and extended treatment of core convergence, including the case of nonconvex preferences, and introduces the investigation of approximate equilibrium with Ushaped curves and nonconvex preferences" Provided by publisher 
Bibliography 
Includes bibliographical references and index 
Notes 
Print version record 
Subject 
Equilibrium (Economics)


Economics, Mathematical.


BUSINESS & ECONOMICS  Economics  Theory.


Equilibre économique.


Doctrines économiques.


Modèles mathématiques.


Economics, Mathematical.


Equilibrium (Economics)


Gleichgewichtstheorie

Form 
Electronic book

ISBN 
9781139126847 

1139126849 

9780511975356 

051197535X 

9781139114011 

1139114018 
