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Author Brown, Donald J., 1937-

Title Computational aspects of general equilibrium theory : refutable theories of value / Donald Brown, Felix Kubler
Published Berlin : Springer, ©2008


Description 1 online resource (x, 202 pages) : illustrations
Series Lecture notes in economics and mathematical systems ; 604
Lecture notes in economics and mathematical systems ; 604.
Contents Front Matter; Refutable Theories of Value; Testable Restrictions on the Equilibrium Manifold; Uniqueness, Stability, and Comparative Statics in Rationalizable Walrasian Markets; The Nonparametric Approach to Applied Welfare Analysis; Competition, Consumer Welfare, and the Social Cost of Monopoly; Two Algorithms for Solving the Walrasian Equilibrium Inequalities; Is Intertemporal Choice Theory Testable?; Observable Restrictions of General Equilibrium Models with Financial Markets; Approximate Generalizations and Computational Experiments
Summary This monograph presents a general equilibrium methodology for microeconomic policy analysis intended to serve as an alternative to the now classical, axiomatic general equilibrium theory as exposited in Debreu's Theory of Value (1959) or Arrow and Hahn's General Competitive Analysis (1971). The methodology proposed in this monograph does not presume the existence of market equilibrium, accepts the inherent indeterminancy of nonparametric general equilibrium models, and offers effective algorithms for computing counterfactual equilibria in these models. It consists of several essays written over the last decade, some with colleagues or former graduate students, and an appendix by Charles Steinhorn on the elements of O-minimal structures, the mathematical framework for our analysis
Bibliography Includes bibliographical references
Notes English
Print version record
Subject Equilibrium (Economics)
Equilibrium (Economics) -- Data processing
POLITICAL SCIENCE -- Economic Conditions.
BUSINESS & ECONOMICS -- Economics -- Macroeconomics.
Science économique.
Economie de l'entreprise.
Equilibrium (Economics)
Form Electronic book
Author Kubler, Felix.
ISBN 9783540765912