A Theory Of Competitive Equilibrium In Stock Market Economies
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Author | : Yves Balasko |
Publisher | : Princeton University Press |
Total Pages | : 188 |
Release | : 2011-07-25 |
Genre | : Business & Economics |
ISBN | : 1400838916 |
The concept of general equilibrium, one of the central components of economic theory, explains the behavior of supply, demand, and prices by showing that supply and demand exist in balance through pricing mechanisms. The mathematical tools and properties for this theory have developed over time to accommodate and incorporate developments in economic theory, from multiple markets and economic agents to theories of production. Yves Balasko offers an extensive, up-to-date look at the standard theory of general equilibrium, to which he has been a major contributor. This book explains how the equilibrium manifold approach can be usefully applied to the general equilibrium model, from basic consumer theory and exchange economies to models with private ownership of production. Balasko examines properties of the standard general equilibrium model that are beyond traditional existence and optimality. He applies the theory of smooth manifolds and mappings to the multiplicity of equilibrium solutions and related discontinuities of market prices. The economic concepts and differential topology methods presented in this book are accessible, clear, and relevant, and no prior knowledge of economic theory is necessary. General Equilibrium Theory of Value offers a comprehensive foundation for the most current models of economic theory and is ideally suited for graduate economics students, advanced undergraduates in mathematics, and researchers in the field.
Author | : Michael Magill |
Publisher | : MIT Press |
Total Pages | : 566 |
Release | : 2002 |
Genre | : Business & Economics |
ISBN | : 9780262632546 |
Theory of incompl. markets/M. Magill, M. Quinzii. - V.1.
Author | : Andreu Mas-Colell |
Publisher | : Harvard University Press |
Total Pages | : 249 |
Release | : 2016-01-04 |
Genre | : Business & Economics |
ISBN | : 0674728734 |
Andreu Mas-Colell revolutionized our understanding of competitive markets, price formation, and the behavior of market participants. This volume presents the papers that solidified his standing as one of the preeminent economic theorists of our time. It also is invaluable for anyone wishing to study the craft of a master of economic modeling.
Author | : Takashi Suzuki |
Publisher | : World Scientific |
Total Pages | : 285 |
Release | : 2009 |
Genre | : Business & Economics |
ISBN | : 9812833323 |
A unique feature of the book compared to classical monographs on GE is its emphasis on the historical nature of the subject, and not only the mathematical nature. Students are expected to learn that those mathematically formidable techniques are indeed necessary for tackling many economic problems which have been significant not only in the mathematical or technical context, but also in the historical and traditional context.
Author | : W. D. A. Bryant |
Publisher | : World Scientific |
Total Pages | : 492 |
Release | : 2010 |
Genre | : Business & Economics |
ISBN | : 9812818340 |
"This book focuses on the foundations of general equilibrium theory, more specifically on the existence, uniqueness, stability, optimality and comparative static properties of equilibrium states. It also explores the question of the empirical relevance of equilibrium states. It highlights a series of 'relationship conditions' which are essential for the existence of equilibrium, but appear in optimality results." -- PUBLISHER WEBSITE.
Author | : Yves Balasko |
Publisher | : World Scientific |
Total Pages | : 281 |
Release | : 2016-05-11 |
Genre | : Business & Economics |
ISBN | : 9814651729 |
The economic theory of general equilibrium underpins the most important models used in economic theory in general and in its more specialized areas such as macroeconomics, international trade, environmental economics, growth theory, and developmental economics. In Foundations of the Theory of General Equilibrium, leading academic scholar, Yves Balasko offers a good introduction to the economic theory of general equilibrium and makes use of various mathematical tools as intuitive and easy as possible. The second half of the book addresses properties of the general equilibrium model that are still at the frontier of current research. These properties deal with the characterization of economies with a unique equilibrium and, more generally, with the relationships between the number of equilibria and the fundamentals of an economy.
Author | : Ross M. Starr |
Publisher | : Cambridge University Press |
Total Pages | : 280 |
Release | : 1997-07-13 |
Genre | : Business & Economics |
ISBN | : 9780521564731 |
General Equilibrium Theory: An Introduction treats the classic Arrow-Debreu general equilibrium model in a form accessible to graduate students and advanced undergraduates in economics and mathematics. Topics covered include mathematical preliminaries, households and firms, existence of general equilibrium, Pareto efficiency of general equilibrium, the First and Second Fundamental Theorems of Welfare Economics, the core and core convergences, future markets over time and contingent commodity markets under uncertainty. Demand, supply, and excess demand appear first as (point-valued) functions, then optionally as (set-valued) correspondences. The mathematics presented (with elementary proofs of the theorems) includes a real analysis, the Brouwer fixed point theorem, and separating and supporting hyperplane theorems. Optional chapters introduce the existence of equilibrium with set-valued supply and demand, the mathematics of upper and lower hemicontinuous correspondences, and the Kakutani fixed point theorem. The treatment emphasizes clarity and accessibility to the student through use of examples and intuition.
Author | : John Stachurski |
Publisher | : Springer Science & Business Media |
Total Pages | : 454 |
Release | : 2012-01-25 |
Genre | : Business & Economics |
ISBN | : 3642223974 |
Optimal growth theory studies the problem of efficient resource allocation over time, a fundamental concern of economic research. Since the 1970s, the techniques of nonlinear dynamical systems have become a vital tool in optimal growth theory, illuminating dynamics and demonstrating the possibility of endogenous economic fluctuations. Kazuo Nishimura's seminal contributions on business cycles, chaotic equilibria and indeterminacy have been central to this development, transforming our understanding of economic growth, cycles, and the relationship between them. The subjects of Kazuo's analysis remain of fundamental importance to modern economic theory. This book collects his major contributions in a single volume. Kazuo Nishimura has been recognized for his contributions to economic theory on many occasions, being elected fellow of the Econometric Society and serving as an editor of several major journals. Chapter “Introduction” is available open access under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License via link.springer.com.
Author | : Sanford J. Grossman |
Publisher | : |
Total Pages | : 80 |
Release | : 1976 |
Genre | : Economics |
ISBN | : |
Author | : Harold Demsetz |
Publisher | : |
Total Pages | : |
Release | : 1990 |
Genre | : |
ISBN | : |