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

Werner Hildenbrand (Autor)

eBook Download: PDF

2015
262 Seiten
Princeton University Press (Verlag)
978-1-4008-6947-3 (ISBN)

Infos

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 "e;many"e; participating agents and if the influence of every individual agent on collective actions is "e;negligible."e; 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.

Produkt-Details

• Erscheint lt. Verlag: 8.3.2015
• Reihe/Serie: Princeton Legacy Library
• Reihe/Serie: Princeton Legacy Library
• Reihe/Serie: Princeton Studies in Mathematical Economics
• Reihe/Serie: Princeton Studies in Mathematical Economics
• Verlagsort: Princeton
• Sprache: englisch
• Themenwelt: Wirtschaft ► Allgemeines / Lexika
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
• Schlagworte: Almost surely • Analytic set • Axiom • Borel set • Bounded set (topological vector space) • budget constraint • Budget set • Calculation • Cartesian Product • Cauchy Sequence • central limit theorem • coefficient • combination • Commodity • Compact space • complete metric space • continuous function • Continuous function (set theory) • Contract curve • Convergence in measure • Convergence of random variables • Convex preferences • convex set • Countable set • Counting measure • C space • Dense set • Differentiable function • Dimension • Econometrica • Econometrics • Economic equilibrium • Economics • economy • exchange economy • Exchange Rate • exchange value • existence theorem • existential quantification • Extended real number line • Family of sets • Fatou's lemma • Fubini's Theorem • hausdorff distance • income • Indifference curve • Infimum and supremum • Integer • Jacobian matrix and determinant • Joint probability distribution • Lebesgue measure • Limit point • Marginal distribution • Markov Chain • Maximal element • Measurable function • Measure (mathematics) • Medium of exchange • Metric Space • monotone convergence theorem • Monotonic Function • Natural number • Open set • Pareto Efficiency • Preference (economics) • Preference Relation • price system • Probability • probability measure • Probability space • production set • product measure • Product topology • Quantity • Radon–Nikodym theorem • real number • Sard's theorem • Special case • subsequence • Subset • Summation • Supply (economics) • Theorem • The Product Space • Topological space • Topology • transferable utility • Triangle Inequality • Tychonoff's theorem • uniform continuity • Unit interval • Upper and lower bounds • Utility • Utilization • Walras' law • Weak convergence (Hilbert space) • Wealth • Welfare Economics • Without loss of generality • Zorn's lemma
• ISBN-10: 1-4008-6947-1 / 1400869471
• ISBN-13: 978-1-4008-6947-3 / 9781400869473