Core and Equilibria of a Large Economy. (PSME-5)

Werner Hildenbrand (Autor)

Buch | Hardcover

262 Seiten

2016
Princeton University Press (Verlag)
978-0-691-64576-6 (ISBN)

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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.
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*Frontmatter, pg. i*CONTENTS, pg. v*PREFACE, pg. viii*PART I. MATHEMATICS, pg. 1*PART II. ECONOMICS, pg. 81*SUMMARY OF NOTATION, pg. 234*BIBLIOGRAPHY, pg. 236*NAME INDEX, pg. 247*SUBJECT INDEX, pg. 249

Erscheinungsdatum	27.05.2016
Reihe/Serie	Princeton Legacy Library
Verlagsort	New Jersey
Sprache	englisch
Maße	152 x 235 mm
Gewicht	539 g
Themenwelt	Wirtschaft ► Allgemeines / Lexika
	Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
	Wirtschaft ► Volkswirtschaftslehre ► Ökonometrie
ISBN-10	0-691-64576-0 / 0691645760
ISBN-13	978-0-691-64576-6 / 9780691645766
Zustand	Neuware