An Introduction to the Economic Theory of Market Behavior: Microeconomics from a Walrasian Perspective

ISBN-13: 9781848442474 / Angielski / Miękka / 2008 / 736 str.

Opis

The book provides substantial discussion of the model's methodological background; returns to scale; the transformation surface and the fixed-factor-supply economy; existence, uniqueness, and stability of equilibria; the dynamics of market adjustments; methodological individualism and the theory of price determination; imperfectly competitive markets; welfare economics; and the role of money capital in the operation of the firm. The author suggests that the abandonment of general equilibrium theory by microeconomists is a mistake, and that it is too soon to give up on the possibility of constructing an adequate analysis of uniqueness, global stability, and price determination.