Walras's Market Models di Donald A. Walker edito da Cambridge University Press
Alta reperibilità

Walras's Market Models

EAN:

9780521562683

ISBN:

0521562686

Pagine:
478
Formato:
Hardback
Lingua:
Inglese
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Descrizione Walras's Market Models

Walras's Market Models describes and evaluates Leon Walras's models of competitive markets. The book differs from previous examinations of his work by identifying his career phases and the associated general equilibrium models, which are shown to be very different in character. During his mature phase of theoretical activity, Walras was concerned with a competitive economy that passes through a stage of disequilibrium in the production and sales of commodities. In his last phase of theoretical activity, he tried to construct a model in which hiring, production, sales, consumption, and saving would be suspended until an equilibrium of prices was found. The defective structure of that model and its fragmentary nature prevented it from becoming a functioning system. Until now, the models of the two phases of Walras's theoretical work have not been subjected to an accurate analysis and evaluation. Walras's Market Models fills this gap.

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