General Equilibrium with Price-Making Firms

Language: English

Published by Springer, Springer Feb 1974, 1974

3540066241 / 9783540066248

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Seller: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, GermanyBuchWeltWeit Ludwig Meier e.K.

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Softcover

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This item is printed on demand - it takes 3-4 days longer - Neuware -Motivation. That elegant fiction the competitive equilibrium seems still to dominate the frontiers of theoretical microeconomics. We may think of it in a general way as a state of affairs wherein economic agents, responding 'rationally' to annoWlced prices, make choices which are consistent and feasible. The prices may also be described as 'taken': for one reason or another the agents who respond to them consider them as given. The existence of such a state, its optimality, its robustness against free bargaining among agents when there are many of them, its Wliqueness, its stability when price displacements evoke specified adjustments--all these issues have been studied, and continue to be studied in a variety of settings. Slowly the equilibrium investigated begins to incorporate public goods, externalities of certain kinds, differences in agents' information, and infinitely many time periods. The appeal of such results need not be belabored: the equilibrium studied may sustain an optimal resource allocation, and when it does it sus tains it in a manner that appears to be informationally efficient and to accord well with individual incentives. Therefore it is important to extend the circumstances under which an equilibrium exists, under which it sustains opti mality, and under which it survives displacements as well as free bargaining among agents. 260 pp. Englisch.…

Seller Inventory # 9783540066248

Title
General Equilibrium with Price-Making Firms
Author
T. Marschak
Publisher
Springer, Springer Feb 1974
Publication year
1974
Condition
Neu
Binding
Taschenbuch
Language
English
ISBN 10
3540066241
ISBN 13
9783540066248
Item weight
455 grams
Dimensions
244x170x15 mm

BuchWeltWeit Ludwig Meier e.K.

Bergisch Gladbach, Germany

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AbeBooks seller since January 11, 2012

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BuchWeltWeit Ludwig Meier e.K.

Germany