General Equilibrium Theory of Value (eBook)

Yves Balasko (Autor)

eBook Download: EPUB

2011
192 Seiten
Princeton University Press (Verlag)
978-1-4008-3891-2 (ISBN)

Infos

The concept of general equilibrium, one of the central components of economic theory, explains the behavior of supply, demand, and prices by showing that supply and demand exist in balance through pricing mechanisms. The mathematical tools and properties for this theory have developed over time to accommodate and incorporate developments in economic theory, from multiple markets and economic agents to theories of production. Yves Balasko offers an extensive, up-to-date look at the standard theory of general equilibrium, to which he has been a major contributor. This book explains how the equilibrium manifold approach can be usefully applied to the general equilibrium model, from basic consumer theory and exchange economies to models with private ownership of production. Balasko examines properties of the standard general equilibrium model that are beyond traditional existence and optimality. He applies the theory of smooth manifolds and mappings to the multiplicity of equilibrium solutions and related discontinuities of market prices. The economic concepts and differential topology methods presented in this book are accessible, clear, and relevant, and no prior knowledge of economic theory is necessary. General Equilibrium Theory of Value offers a comprehensive foundation for the most current models of economic theory and is ideally suited for graduate economics students, advanced undergraduates in mathematics, and researchers in the field.

Autor

Yves Balasko is professor of economics at the University of York. He is the author of Foundations of the Theory of General Equilibrium and The Equilibrium Manifold.

Produkt-Details

• Erscheint lt. Verlag: 25.7.2011
• Zusatzinfo: 8 line illus.
• Verlagsort: Princeton
• Sprache: englisch
• Themenwelt: Wirtschaft ► Allgemeines / Lexika
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Mikroökonomie
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Ökonometrie
• Schlagworte: Addition • aggregate demand • aggregate excess demand • aggregate supply • Analysis • Approximation • Arbitrarily large • asset • Behavioral Economics • bijection • Binary Relation • boundedness • budget constraint • Cartesian Product • Catastrophe Theory • Cauchy Sequence • chain rule • classical consumer theory • coefficient • combination • Commodity • Compact space • Competitive equilibrium • Competitive Markets • Computation • concave function • connectedness • Connected space • constant returns • constrained utility maximization • consumer • consumer choice • consumer demand • Consumer preferences • Consumers • consumer theory • consumption • Consumption (Economics) • continuous function • Contract curve • Contradiction • convex function • convex set • coordinate system • corollary • Cost–benefit analysis • Curve • decreasing returns • demand • Demand curve • demand functions • Derivative • Determinant • diffeomorphism • Differentiable function • differentiable manifold • Differential topology • Dimension • Discrete space • Division by zero • Economic agents • Economic equilibrium • Economic Geography • Economic Policy • Economics • Economic Theory • economy • Efficiency • empty set • equilibrium manifold • Equilibrium Solutions • equivalence class • equivalence relation • Euclidean space • Excess demand function • exchange economy • exchange model • existence theorem • existential quantification • Expense • Firm • firms • Fubini's Theorem • Function (mathematics) • Gaussian curvature • General Equilibrium • General Equilibrium Model • general equilibrium models • General Equilibrium Theory • global coordinate system • Homeomorphism • hypersurface • implicit function theorem • income • Indifference curve • Industry • Inequality (mathematics) • Invertible matrix • Jacobian Matrix • Jacobian matrix and determinant • Lebesgue measure • Linear map • Linear Spaces • Liskov substitution principle • Locally constant function • Long run and short run • Loss Function • managerialism • manifold • Manufacturing • Marginal cost • market liquidity • Market Price • Mass production • matrix multiplication • maximization • Maximizer • modern economies • Monotonic Function • natural projection • Neoclassical Economics • net supply correspondence • Non-convexity (economics) • normal cone • no-trade equilibria • no-trade equilibrium • Numeraire • ODEL • Oligopoly • Open set • optimization problem • Ordinal utility • Ownership • Parameter • Parameter Space • parametrization • Pareto Efficiency • partial derivative • polynomial • Preference (economics) • Preference Relation • preorder • Prices • price system • pricing mechanisms • privately owned firms • private owership • private ownership • Probability • Production • Production Function • production set • Profit (economics) • Profit Maximization • profits • Proper map • properness • Public Economics • Quantity • real number • regular economies • Relative price • Returns to Scale • revealed preferences • Sard's theorem • scale firms • scale forms • Semialgebraic set • Singular value • Slutsky matrices • Smooth Manifold • Smooth manifolds • Smoothness • smooth production • Special case • standard model • Statistic • Structural Stability • submanifold • subsequence • Subset • substitution effect • Summation • Supply • Supply and Demand • Supply (economics) • supply functions • Theorem • theory • Theory of the Firm • Theory of value (economics) • Topological space • Transitive relation • uniqueness • Utility • utility functions • Utility Maximization • Utility maximization problem • Value Added • Value theory • Volume element • Walras law • Wealth
• ISBN-10: 1-4008-3891-6 / 1400838916
• ISBN-13: 978-1-4008-3891-2 / 9781400838912