Core Equilibria Of Large Economy
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Core And Equilibria Of A Large Economy Psme 5
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Author : Werner Hildenbrand
language : en
Publisher: Princeton University Press
Release Date : 2015-03-08
Core And Equilibria Of A Large Economy Psme 5 written by Werner Hildenbrand and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-08 with Business & Economics categories.
Can every allocation in the core of an economy be decentralized by a suitably chosen price system? Werner Hildenbrand shows that the answer is yes if the economy has "many" participating agents and if the influence of every individual agent on collective actions is "negligible." To give a general and precise definition of economics with this property he considers both economies with a continuum of agents, and a sequence of economies with an increasing number of participants. In both cases this leads to a measure theoretic formulation of economic equilibrium analysis. In the first part of the book the relevant mathematics is developed. In the second part the continuity and convexity properties of the total demand of a consumption sector are investigated. An important result is the equivalence between the core and the set of Walras equilibria for an exchange economy with a continuum of agents. The author then deals with limit theorems on the core for purely competitive sequences of exchange economies. In the last chapter the core and the set of Walras equilibria for a coalition production economy and the relation between these two equilibrium concepts are studied. Originally published in 1974. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Core And Equilibria Of A Large Economy
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Author : Werner Hildenbrand
language : en
Publisher: Princeton, N.J : Princeton University Press
Release Date : 1974
Core And Equilibria Of A Large Economy written by Werner Hildenbrand and has been published by Princeton, N.J : Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1974 with Economics, Mathematical categories.
Can every allocation in the core of an economy be decentralized by a suitably chosen price system? Werner Hildenbrand shows that the answer is yes if the economy has "many" participating agents and if the influence of every individual agent on collective actions is "negligible." To give a general and precise definition of economics with this property he considers both economies with a continuum of agents, and a sequence of economies with an increasing number of participants. In both cases this leads to a measure theoretic formulation of economic equilibrium analysis. In the first part of the book the relevant mathematics is developed. In the second part the continuity and convexity properties of the total demand of a consumption sector are investigated. An important result is the equivalence between the core and the set of Walras equilibria for an exchange economy with a continuum of agents. The author then deals with limit theorems on the core for purely competitive sequences of exchange economies. In the last chapter the core and the set of Walras equilibria for a coalition production economy and the relation between these two equilibrium concepts are studied. Originally published in 1974. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These paperback editions preserve the original texts of these important books while presenting them in durable paperback editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Core Equilibria Of Large Economy
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Author : W. Hildenbrand
language : it
Publisher:
Release Date :
Core Equilibria Of Large Economy written by W. Hildenbrand and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Introduction To Equilibrium Analysis
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Author : W. Hildenbrand
language : en
Publisher: Elsevier
Release Date : 2014-07-22
Introduction To Equilibrium Analysis written by W. Hildenbrand and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-22 with Business & Economics categories.
Advanced Textbooks in Economics, Volume 6: Introduction to Equilibrium Analysis: Variations on Themes by Edgeworth and Walras focuses on the approaches developed and instituted by Edgeworth and Walras in the study of equilibrium analysis. The book first underscores exchange economies, core of a game, and large economies. Discussions focus on economies with a continuum of agents, Walras equilibrium, prices and demand, balancedness, and commodity space. The manuscript then ponders on limit theorems for the core and existence of competitive equilibria. Topics include equilibria without convexity of preferences, existence of equilibria for economies with convex preferences, individual demand, emergence of prices, asymptotic equal treatment for most, uniform boundedness of core allocations, and limit theorems for type and replica economies. The publication examines continuous, upper, and lower hemi-continuous correspondences, fixed point theorems, and separation of convex sets. The book is a vital source of data for economists and researchers interested in equilibrium analysis.
The Social Viability Of Money
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Author : Joan Esteban
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
The Social Viability Of Money written by Joan Esteban and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
In this book overlapping generations economies are analysed from a game theoretical point of view and the social acceptability of consumption allocations is studied in infinite horizon models of pure exchange economieswith agents with finite lifetimes who behave cooperatively. The core of such economies and its relation with competitive equilibria, both walrasian and monetary and the essential characteristics of the overlapping generations model are examined. The author defines the problem of trust in intertemporal consumption allocations as a question of belonging or not to the core of economy and provides a full characterization of the core allocations for n-goods pure exchange economies with one agent per generation: a consumption allocation belongs to the core if and only it is Pareto optimal and Sequentially Individually Rational. From this it follows that for one commodity economies no consumption allocation involving intertemporal transfers can belong to the core of the economy. In other words, no monetary equilibrium is socially viable. This result is no longer true for many goods models. For that case it is demonstrated that there exist bounds on the real value of equilibrium money purchases beyond which monetary equilibria are not socially viableand with many agents in every generation it is shown that as the economy becomes large and monetary (as well as IOU) equilibria become eventually excluded from the core of the economy. These results provide an analytical rationale for the fact that in most countries fiat money is legal tender.
Nash Walras Equilibria Of A Large Economy
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Author : Enrico Minelli
language : en
Publisher:
Release Date : 1999
Nash Walras Equilibria Of A Large Economy written by Enrico Minelli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
Economic Exchange And Social Organization
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Author : Robert P. Gilles
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Economic Exchange And Social Organization written by Robert P. Gilles and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
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.
Nash Walras Equilibria Of A Large Economy
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Author : Enrico Stefano Minelli
language : en
Publisher:
Release Date : 1999
Nash Walras Equilibria Of A Large Economy written by Enrico Stefano Minelli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
Equilibria And Core Of Large Economies
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Author : Hildegard Dierker
language : en
Publisher:
Release Date : 1974
Equilibria And Core Of Large Economies written by Hildegard Dierker and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1974 with categories.
Economies With Many Agents
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Author : Salim Rashid
language : en
Publisher:
Release Date : 1987
Economies With Many Agents written by Salim Rashid and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with Business & Economics categories.