General Equilibrium Theory: An Introduction

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Cambridge University Press, 1997 - Business & Economics - 250 pages
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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.
  

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Contents

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Page 245 - ... (1896-7), Cours d'Economique politique, Lausanne. Samuelson, PA (1947), Foundations of Economic Analysis, Cambridge, Mass. Shubik, M. (1959), Game Theory, Cambridge, Mass. Smith, A. (1976 [1776]), Wealth of Nations, Oxford. Walras, M. (1954 [1874]), Elements of Pure Economics, trans. W. Jaffe, London. Weintraub, ER (1983), 'On the existence of competitive equilibrium: 1930-1954', Journal of Economic Literature, 21.

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About the author (1997)

Ross M. Starr is Professor of Economics at the University of California, San Diego, where he has taught since 1980. He has also served on the faculties of Yale University, the London School of Economics and the University of California, Davis, and he held a Guggenheim Fellowship at the University of California, Berkeley. Professor Starr's research focuses on general equilibrium theory, mathematical economics and monetary theory. He is the editor of General Equilibrium Models of Monetary Economies (1989) and coeditor of the three-volume Essays in Honor of Kenneth Arrow (Cambridge University Press, 1986). His articles have appeared in journals such as Econometrica, Economic Theory, the Journal of Economic Theory, the Journal of Money, Credit, and Banking, the Quarterly Journal of Economics and the Review of Economic Studies. Cambridge University Press released the first edition of General Equilibrium Theory: An Introduction in 1997.

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