Existence and Optimality of Competitive Equilibria

Author: Charalambos D. Aliprantis
Publisher: Springer Science & Business Media
ISBN: 3662218933
Format: PDF, ePub, Docs
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This monograph is a systematic exposition of the authors' research on general equi librium models with an infinite number of commodities. It is intended to serve both as a graduate text on aspects of general equilibrium theory and as an introduction, for economists and mathematicians working in mathematical economics, to current research in a frontier area of general equilibrium theory. To this end, we have pro vided two introductory chapters on the basic economic model and the mathematical framework. The exercises at the end of each section complement the main exposition. Chapter one is a concise but substantiative discussion of the questions of exis tence and optimality of competitive equilibria in the Walrasian general equilibrium model of an economy with a finite number of households, firms and commodities. Our extension of this model to economies with an infinite number of commodities constitutes the core material of this book and begins in chapter three. Readers fa miliar with the Walrasian general equilibrium model as exposited in (13], [23] or [52] may treat chapter one as a handy reference for the main economic concepts and notions that are used throughout the book.

General Equilibrium Analysis

Author: Monique Florenzano
Publisher: Springer Science & Business Media
ISBN: 9781402075124
Format: PDF, Docs
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General Equilibrium Analysis is a systematic exposition of the Walrasian model of economic equilibrium with a finite number of agents, as formalized by Arrow, Debreu and McKenzie at the beginning of the fifties and since then extensively used, worked and studied. Existence and optimality of general equilibrium are developed repeatedly under different sets of hypothesis which define some general settings and delineate different approaches to the general equilibrium existence problem. The final chapter is devoted to the extension of the general equilibrium model to economies defined on an infinite dimensional commodity space. The objective of General Equilibrium Analysis is to give to each problem in each framework the most general solution, at least for the present state of art. The intended readers are graduate students, specialists and researchers in economics, especially in mathematical economics. The book is appropriate as a class text, or for self-study.

Classical Political Economy and Modern Theory

Author: Neri Salvadori
Publisher: Routledge
ISBN: 1136639403
Format: PDF, Mobi
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Heinz Kurz is recognised internationally as a leading economic theorist and a foremost historian of economic thought. This book pays tribute to his outstanding contributions by bringing together a unique collection of new essays by distinguished economists from around the world. Classical Political Economy and Modern Theory comprises twenty essays, grouped thematically into five sections. Part I examines political economy and its critique, Part II looks at entrepreneurship, evolution and income distribution, Part III discusses Cambridge, Keynes and macroeconomics, Part IV explores crisis and cycles, whilst Part V is dedicated to personal reminiscences. The essays in this book will be an invaluable source of inspiration for economists interested in economic theory and in the evolution of economic thought. They will also be of interest to postgraduate and research students specialising in economic theory and in the history of economic thought.

The Collapse of the Fact value Dichotomy and Other Essays

Author: Hilary Putnam
Publisher: Harvard University Press
ISBN: 9780674009059
Format: PDF
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If philosophy has any business in the world, it is the clarification of our thinking and the clearing away of ideas that cloud the mind. In this book, one of the world's preeminent philosophers takes issue with an idea that has found an all-too-prominent place in popular culture and philosophical thought: the idea that while factual claims can be rationally established or refuted, claims about value are wholly subjective, not capable of being rationally argued for or against. Although it is on occasion important and useful to distinguish between factual claims and value judgments, the distinction becomes, Hilary Putnam argues, positively harmful when identified with a dichotomy between the objective and the purely "subjective." Putnam explores the arguments that led so much of the analytic philosophy of language, metaphysics, and epistemology to become openly hostile to the idea that talk of value and human flourishing can be right or wrong, rational or irrational; and by which, following philosophy, social sciences such as economics have fallen victim to the bankrupt metaphysics of Logical Positivism. Tracing the problem back to Hume's conception of a "matter of fact" as well as to Kant's distinction between "analytic" and "synthetic" judgments, Putnam identifies a path forward in the work of Amartya Sen. Lively, concise, and wise, his book prepares the way for a renewed mutual fruition of philosophy and the social sciences.

Stochastic Finance

Author: Hans Föllmer
Publisher: Walter de Gruyter
ISBN: 3110218054
Format: PDF, Docs
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This is the third, revised and extended edition of the classical introduction to the mathematics of finance, based on stochastic models in discrete time. In the first part of the book simple one-period models are studied, in the second part the idea of dynamic hedging of contingent claims is developed in a multiperiod framework. Due to the strong appeal and wide use of this book, it is now available as a textbook with exercises. It will be of value for a broad community of students and researchers. It may serve as basis for graduate courses and be also interesting for those who work in the financial industry and want to get an idea about the mathematical methods of risk assessment.

Principles of Microeconomics

Author: Martin Kolmar
Publisher: Springer
ISBN: 3319575899
Format: PDF, Kindle
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This text provides a comprehensive and unique introduction to modern microeconomics. It pursues an integrative approach by putting the main findings of economics into a broader perspective; theories are critically reflected on from a philosophical standpoint and by comparing them to approaches found in the social sciences, while implications for the design of the legal system and business practices are highlighted throughout. In addition, the book presents brief examples and comprehensive case studies to facilitate an understanding of the theories’ real-world implications. Starting from the question as to why and how societies organize economic activity, the book adopts an institutional perspective to analyze the potential and limitations of different market types with regard to alleviating scarcity and achieving distributive objectives. It not only covers traditional rational-choice models, but also systematically introduces readers to important findings from behavioral economics and psychology. A companion workbook is available which features a wide variety of exercises, ranging from basic multiple-choice questions to challenging mathematical problems and case study scenarios.