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Concepts of equilibrium
Some recent developments
Malinvauds Lectures on Microeconomic
actions actual agents argued Arrow-Debreu model assume assumption behaviour Burmeister capital goods proper changes chapter choice circulating capital claim commodity comparative statics conception consider consumer consumption set contrast convergence course Debreu decision demand and supply determined disequilibrium dynamic economic theory economists emphasised entrepreneurs equations equilibrium prices essay existence expectations firm Fisher future prices given Hahn Hayek Hicks imagined income individuals initial insists interpretation invoke involves knowledge Lachmann Leon Walras Lindahl Malinvaud market process Marshall Marshall's Marshallian Monday nature notion of equilibrium numeraire output particular perfect competition perfect foresight period phase plans possible prediction present instant problem productive services quantities question rational refer relevant result returns to scale role Shackle Shackle's short simply specific stationarity stationary stocks suggests supply and demand supply price suppose take place tatonnement temporal temporary equilibrium theorists trading transactions uncertainty Value and Capital Walras week whereas