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Economic Exchange and Social Organization

The Edgeworthian foundations of general equilibrium theory

  • Book
  • © 1996

Overview

Authors:
  1. Robert P. Gilles

    1. Virginia Polytechnic Institute and State University, Blacksburg, USA

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Part of the book series: Theory and Decision Library C (TDLC, volume 12)

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Table of contents (7 chapters)

  1. Front Matter

    Pages i-xi
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  2. Scarcity and Gains from Trade

    • Robert P. Gilles
    Pages 1-22

  3. The Foundations of General Equilibrium

    • Robert P. Gilles
    Pages 23-52

  4. The Principles of Individual Exchange

    • Robert P. Gilles
    Pages 53-97

  5. Properties of the Core in Finite Economies

    • Robert P. Gilles
    Pages 99-131

  6. The Primitives of Coalitional Exchange

    • Robert P. Gilles
    Pages 133-180

  7. Barter in Coalitionally Structured Economies

    • Robert P. Gilles
    Pages 181-224

  8. Perfect Competition

    • Robert P. Gilles
    Pages 225-282

  9. Back Matter

    Pages 283-311
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Keywords

About this book

This book aims to develop an institutional approach to general economic equi­ librium. Thus far, institutional economics has essentially been confined to purely verbal discourse. Here I argue the case that general equilibrium theory forms a well rounded basis for the development of an institutional economic the­ ory. The fundamental economic trade mechanism underlying this refocusing is that of the Edgeworthian barter mechanism modelled through the equilibrium notion of the core of an economy. There is an extensive literature that links the core with the Walrasian price mechanism, which is explored in this book. Next I develop an alternative model of explicitly nonsovereign trade in the setting of an institutionally structured economy. In this book the core and several of its extensions are considered to be descriptions of the equilibrium allocations resulting from institutionalized barter processes, thereby providing a basis of an institutionally based economic theory. Traditionally finite economies have been assessed as the most natural represen­ tations of real life economies, in particular of market economies. Many funda­ mental insights have been developed. In the first half of the book I summarize the most influential and important results in the literature on finite economies regarding the relationship of the Walrasian model of a perfectly competitive market system and the Edgeworthian theory of individually based, pure barter processes. I use the axiomatic method as the main methodological framework according to which I construct my models.

Authors and Affiliations

  • Virginia Polytechnic Institute and State University, Blacksburg, USA

    Robert P. Gilles

Bibliographic Information

  • Book Title: Economic Exchange and Social Organization

  • Book Subtitle: The Edgeworthian foundations of general equilibrium theory

  • Authors: Robert P. Gilles

  • Series Title: Theory and Decision Library C

  • DOI: https://doi.org/10.1007/978-1-4613-1285-7

  • Publisher: Springer New York, NY

  • eBook Packages: Springer Book Archive

  • Copyright Information: Kluwer Academic Publishers 1996

  • Hardcover ISBN: 978-0-7923-4200-7Published: 30 September 1996

  • Softcover ISBN: 978-1-4612-8549-6Published: 17 September 2011

  • eBook ISBN: 978-1-4613-1285-7Published: 06 December 2012

  • Series ISSN: 0924-6126

  • Series E-ISSN: 2194-3044

  • Edition Number: 1

  • Number of Pages: XII, 312

  • Topics: Microeconomics, Economic Theory/Quantitative Economics/Mathematical Methods

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