Description 
1 online resource (xiii, 318 pages) : illustrations 
Contents 
Theory of Demand  A Direct Approach to Demand Theory  Demand Theory without Transitivity  The Classical Theory  The Method of Revealed Preference  Market Demand Functions  Continuity of m[subscript x](p)  Negative Semidefiniteness of [m subscript ij (p)]  Euler's Theorem for f(p)  Quasilinear Preferences  The Law of Demand and Risk Aversion  The Strong Axiom of Revealed Preference  Group Demand Functions  Tatonnement Stability of Equilibrium  Excess Demand Functions  Market Equilibrium  Matrices with Quasidominant Diagonals  The Process of Tatonnement  Local Stability of the Tatonnement  Tatonnement with Expectations  An Economy of Firms  An Economy of Activities  Tatonnment with Trading  Global Stability with Gross Substitutes  Individual and Market Excess Demand Functions  The Gross Substitute Assumption  The Weak Axiom of Revealed Preference and Local Stability  Stability in a Temporary Equilibrium Model  Leontief Models of Production  The Simple Leontief Model  A Simple Leontief Model of Growth  The Simple Model with Variable Coefficients  Nonsubstitution with Capital Stocks  Current Prices and Interest Rates  Continuity of [mu subscript A](s)  Comparative Statics  The Local Theory of Comparative Statics  The Morishima Case  Global Comparative Statics  Comparative Statics for the Individual Agent  Comparative Statics and Supermodularity  Local Uniqueness of Equilibrium  Jacobi's Theorem  Negative Definiteness under Constraint 
Summary 
Although general equilibrium theory originated in the late nineteenth century, modern elaboration and development of the theory began only in the 1930s and 1940s. This book focuses on the version of the theory developed in the second half of the twentieth century, referred to by Lionel McKenzie as the classical general equilibrium theory. McKenzie offers detailed and rigorous treatment of the classical model, giving stepbystep proofs of the basic theorems. In many cases he elaborates on the individual steps to give a fuller understanding of the underlying principles. His goal is to provide readers with a true mastery of the methodology so that they can derive new results that will further enrich their thinking about general equilibrium theory. Special attention is given to the McKenzie model, in which it is not assumed that the number of firms is given but rather that technologies or activities are available to any agents who can supply the resources they require. The McKenzie model is used to establish the turnpike theorems of optimal and competitive capital accumulation 
Analysis 
ECONOMICS/Microeconomics 
Bibliography 
Includes bibliographical references (pages 301307) and indexes 
Notes 
Print version record 
Subject 
Equilibrium (Economics)


Equilibrium (Economics)  History


POLITICAL SCIENCE  Economic Conditions.


BUSINESS & ECONOMICS  Economics  Macroeconomics.


Equilibrium (Economics)


Economisch evenwicht.


Evenwichtsmodellen (Economie)


Geschiedenis.

Genre/Form 
History.

Form 
Electronic book

LC no. 
2002023017 
ISBN 
9780262279529 

0262279525 

0585436819 

9780585436814 

9780262134132 

0262134136 
