ENGLISH

Walras's Market Models

By Donald A. Walker

Book information

Publisher
Cambridge University Press
Year
2005
ISBN
9780511664502, 9780521562683, 9780521022958
DOI
10.1017/CBO9780511664502
Google Books ID
23M5PwAACAAJ
Open Library ID
OL7713963M
Language
english
Format
PDF
Filesize
5 MB (5343629 bytes)
Pages
476\476
Orientation
yes
Scanned
yes
Time added
2012-03-17 06:00:00

Description

Walras's Market Models describes and evaluates Léon Walras' models of competitive markets. Through identification of his career phases and the associated general equilibrium models, which are shown to be very different in character, this book differs from previous examinations of his work. During his mature phase of theoretical activity, Walras was concerned with a competitive economy that passes through a phase of disequilibrium in the production and sales of commodities. While in his last phase of theoretical activity, he developed a model in which there is no production, sales, hiring, consuming or saving until an assumed set of equilibrium prices obtains of the model.

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