Essays In Dynamic General Equilibrium Theory

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Essays In Dynamic General Equilibrium Theory

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Author : Alessandro Citanna
language : en
Publisher: Springer Science & Business Media
Release Date : 2005-01-17

Essays In Dynamic General Equilibrium Theory written by Alessandro Citanna 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 2005-01-17 with Business & Economics categories.

This collection of essays honors David Cass on the 30th anniversary of his joining the faculty of the Department of Economics at the University of Pennsylvania. Prof. Cass’s work has spawned a number of important lines of research in Economics, including the study of dynamic general equilibrium, the concept of sunspot equilibria, and general equilibrium theory when markets are incomplete. These essays, by his students and co-authors, celebrate his work and his influence on the profession.

Essays In Dynamic General Equilibrium Theory

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Author : Alessandro Citanna
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-01-11

Essays In Dynamic General Equilibrium Theory written by Alessandro Citanna 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 2006-01-11 with Business & Economics categories.

In the area of dynamic economics, David Cass’s work has spawned a number of important lines of research, including the study of dynamic general equilibrium theory, the concept of sunspot equilibria, and general equilibrium theory when markets are incomplete. Based on these contributions, this volume contains new developments in the field, written by Cass's students and co-authors.

Computational Aspects Of General Equilibrium Theory

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Author : Donald Brown
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-01-08

Computational Aspects Of General Equilibrium Theory written by Donald Brown 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 2008-01-08 with Business & Economics categories.

This monograph presents a general equilibrium methodology for microeconomic policy analysis. It is intended to serve as an alternative to the now classical, axiomatic general equilibrium theory as exposited in Debreu`s Theory of Value (1959) or Arrow and Hahn`s General Competitive Analysis (1971). The monograph consists of several essays written over the last decade. It also contains an appendix by Charles Steinhorn on the elements of O-minimal structures.

Essays On Dynamic General Equilibrium Models

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Author : Jianjun Miao
language : en
Publisher:
Release Date : 2003

Essays On Dynamic General Equilibrium Models written by Jianjun Miao and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Equilibrium (Economics) categories.

General Equilibrium Theory And Evidence

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Author : William David Anthony Bryant
language : en
Publisher: World Scientific
Release Date : 2009-10-07

General Equilibrium Theory And Evidence written by William David Anthony Bryant and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-10-07 with Business & Economics categories.

General Equilibrium Theory studies the properties and operation of free market economies. The field is a response to a series of questions originally outlined by Leon Walras about the operation of markets and posed by Frank Hahn in the following way: ‘Does the pursuit of private interest, through a system of interconnected deregulated markets, lead not to chaos but to coherence — and if so, how is that achieved?’ This is always an apt question, but particularly so given the ‘Global Financial Crisis’ that emerged from the operation of market economies in the Americas and Europe in mid to late 2008.The answer that General Equilibrium Theory provides to the Walras-Hahn question is that, under certain conditions coherence is possible, while under certain other conditions chaos, in various forms, is likely to prevail. The conditionality of either outcome is not always well understood — neither by proponents of, or antagonists to, the ‘free market position’. Consequently, this book attempts to show something of what General Equilibrium Theory has to say about the wisdom or otherwise of always relying on ‘market forces’ to manage complex socio-economic systems.

The Global Financial Crisis And Its Aftermath

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Author : A.G. Malliaris
language : en
Publisher: Oxford University Press
Release Date : 2016-09-06

The Global Financial Crisis And Its Aftermath written by A.G. Malliaris and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-06 with Political Science categories.

In The Global Financial Crisis, contributors argue that the complexity of the Global Financial Crisis challenges researchers to offer more comprehensive explanations by extending the scope and range of their traditional investigations. To achieve this, the volume views the financial crisis simultaneously through three different lenses---economic, psychological, and social values. Contributors offer a constructive methodology suitable for exploring financial crises. They recognize how current economic analysis did not prepare academic economists, business economists, traders, and regulators to anticipate economic and financial crises. So, they search more extensively within the broader discipline of economics for ideas related to crises but neglected perhaps because they were not mathematically rigorous. They affirm that the complexity of financial crises necessitates complementary research. Thus, to put the focal purpose of this book differently, they explore the Global Financial Crisis from three interconnected frameworks: the standards of orthodox economic analysis, Minskyan economics, and the role of ideas and values in economics. Values are the subject of both philosophy and psychology and can contribute to a better understanding of the Global Financial Crisis. Values, in general, have been relatively neglected by economists. This is not because there is doubt about their significance, but rather because welfare economics and collective choice still operate within the neoclassical paradigm. This volume argues that analyzing the value implications requires moving from the neoclassical framework to something that is broader and multidisciplinary.

William Jaffe S Essays On Walras

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Author : William Jaffé
language : en
Publisher: Cambridge University Press
Release Date : 1983-05-31

William Jaffe S Essays On Walras written by William Jaffé and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983-05-31 with Biography & Autobiography categories.

Essays on the life and work of Léon Walras, the founder of general equilibrium analysis.

Irreversible Decisions Under Uncertainty

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Author : Svetlana Boyarchenko
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-08-26

Irreversible Decisions Under Uncertainty written by Svetlana Boyarchenko 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 2007-08-26 with Business & Economics categories.

Here, two highly experienced authors present an alternative approach to optimal stopping problems. The basic ideas and techniques of the approach can be explained much simpler than the standard methods in the literature on optimal stopping problems. The monograph will teach the reader to apply the technique to many problems in economics and finance, including new ones. From the technical point of view, the method can be characterized as option pricing via the Wiener-Hopf factorization.

Essays In Honor Of Kenneth J Arrow Volume 2 Equilibrium Analysis

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Author : Kenneth Joseph Arrow
language : en
Publisher: Cambridge University Press
Release Date : 1986-07-25

Essays In Honor Of Kenneth J Arrow Volume 2 Equilibrium Analysis written by Kenneth Joseph Arrow and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986-07-25 with Business & Economics categories.

This second volume of economic theory is divided into sections on general equilibrium and on the microfoundations of macroeconomics.

Evolutionary Foundations Of Equilibria In Irrational Markets

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Author : Guo Ying Luo
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-11-19

Evolutionary Foundations Of Equilibria In Irrational Markets written by Guo Ying Luo 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 2011-11-19 with Business & Economics categories.

One of the core building blocks of traditional economic theory is the concept of equilibrium, a state of the world in which economic forces are balanced and in the absence of external influences the values of economic variables remain static. Many traditional equilibrium models, or equilibria, are established based on the rational behavior of individuals within financial markets, such as traders, market analysts, and investing firms, and their ability to maximize profits, no matter the cost. Yet what happens when these market participants behave in an irrational manner, and how does this impact economic equilibria? Contemporary economists have agreed that a process similar to Darwin’s Theory of Natural Selection takes over, whereby equilibria are shaped not by the behavior of individual participants but by an environment outside its control (i.e., an environment with little concern for maximizing profits). It is an environment in which those “selected” produce positive financial gains, but have no regard for how it was obtained or underlying motivations—and those participants suffering losses disappear altogether. Evolutionary Foundations of Equilibria in Irrational Markets proves traditional economic equilibria continue to occur despite natural selection in irrational markets. It covers a wide sampling of equilibria under various scenarios, and each chapter addresses the results of these models at an aggregate level. The text is supplemented with charts and figures to drive home key findings and proofs, making it of interest to students and researchers in the areas of economics and behavioral finance.