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Imperfect General Equilibrium

The Economy as an Evolutionary Process: Individualistic, Discrete, Deterministic

  • Book
  • © 1994

Overview

Authors:
  1. Pier Carlo Nicola

    1. Department of Mathematics “Federigo Enriques”, University of Milan, Milan, Italy

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Part of the book series: Lecture Notes in Economics and Mathematical Systems (LNE, volume 415)

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Table of contents (10 chapters)

  1. Front Matter

    Pages i-xi
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  2. Meaningful Elements in Economic Thought

    • Pier Carlo Nicola
    Pages 1-20

  3. Introductory Examples

    • Pier Carlo Nicola
    Pages 21-42

  4. Goods, Money, Public Administration

    • Pier Carlo Nicola
    Pages 43-54

  5. Firms

    • Pier Carlo Nicola
    Pages 55-68

  6. Consumers

    • Pier Carlo Nicola
    Pages 69-76

  7. Imperfect General Equilibrium

    • Pier Carlo Nicola
    Pages 77-91

  8. Dynamics and Growth, Stationary Equilibria

    • Pier Carlo Nicola
    Pages 93-99

  9. Numeric Simulations. Cycles and Quasi-Chaos

    • Pier Carlo Nicola
    Pages 101-127

  10. Micro—Analysis versus Macro—Synthesis

    • Pier Carlo Nicola
    Pages 129-139

  11. Epilogue

    • Pier Carlo Nicola
    Pages 141-144

  12. Back Matter

    Pages 145-172
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Keywords

About this book

Economic theory of the last fifty years has been dominated by the paradigm of General Equilibrium Theory, based on the scientific work of Walras-Pareto-Cassel-Wald-Hicks-Arrow-De­ breu-McKenzie. Some of its grounding assumptions are: all prices are fully flexible; an auctioneer appropriately manipulates all prices according to the law of supply and demand; every con­ sumer has only one budget constraint; all agents are perfectly informed; no actions are taken by agents before a vector of prices has been found such that all markets clear. Indeed, when all markets clear every agent can implement her/his chosen (opti­ mal) action and nobody is urged to change his/her decisions. Under these assumptions it is generally said that in a (one pe­ riod, competitive) general equilibrium model there is no place for money. The present monograph takes general equilibrium as the ba­ sis on which to build the model presented. But its first aim is to completely dispense with the Walrasian auctioneer by giving firms the task of choosing their output price~ period after period.

Authors and Affiliations

  • Department of Mathematics “Federigo Enriques”, University of Milan, Milan, Italy

    Pier Carlo Nicola

Bibliographic Information

  • Book Title: Imperfect General Equilibrium

  • Book Subtitle: The Economy as an Evolutionary Process: Individualistic, Discrete, Deterministic

  • Authors: Pier Carlo Nicola

  • Series Title: Lecture Notes in Economics and Mathematical Systems

  • DOI: https://doi.org/10.1007/978-3-642-48399-8

  • Publisher: Springer Berlin, Heidelberg

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer-Verlag Berlin Heidelberg 1994

  • Softcover ISBN: 978-3-540-58102-4Published: 29 August 1994

  • eBook ISBN: 978-3-642-48399-8Published: 06 December 2012

  • Series ISSN: 0075-8442

  • Series E-ISSN: 2196-9957

  • Edition Number: 1

  • Number of Pages: XI, 167

  • Topics: Economic Theory/Quantitative Economics/Mathematical Methods

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