Suchergebnisse

Intro -- Contents -- Introduction -- 1 Lionel W. McKenzie -- 2 Equilibrium, Trade, and Capital Accumulation -- Equilibrium -- 3 On Equilibrium in Graham's Model of World Trade and Other Competitive Systems -- 4 Competitive Equilibrium with Dependent Consumer Preferences -- 5 Demand Theory without a Utility Index -- 6 On the Existence of General Equilibrium for a Competitive Market -- 7 Stability of Equilibrium and the Value of Positive Excess Demand -- 8 On the Existence of General Equilibrium: Some Corrections -- 9 Why Compute Economic Equilibria? -- 10 The Classical Theorem on Existence of Competitive Equilibrium -- 11 The Existence of Competitive Equilibrium over an Infinite Horizon with Production and General Consumption Sets -- Trade -- 12 Specialisation and Efficiency in World Production -- 13 Equality of Factor Prices in World Trade -- 14 Specialization in Production and the Production Possibility Locus -- 15 Matrices with Dominant Diagonals and Economic Theory -- 16 The Inversion of Cost Functions: A Counter-Example -- 17 Theorem and Counter-Example -- Growth -- 18 The Dorfman-Samuelson-Solow Turnpike Theorem -- 19 Turnpike Theorem of Morishima -- 20 Accumulation Programs of Maximum Utility and the von Neumann Facet -- 21 Capital Accumulation Optimal in the Final State -- 22 Turnpike Theorems with Technology and Welfare Function Variable -- 23 A New Route to the Turnpike -- 24 A Primal Route to the Turnpike and Liapounov Stability -- 25 Turnpike Theory, Discounted Utility, and the von Neumann Facet -- Sources -- Index.

Although general equilibrium theory originated in the late nineteenth century, modern elaboration and development of the theory began only in the 1930s and 1940s. This book focuses on the version of the theory developed in the second half of the twentieth century, referred to by Lionel McKenzie as the classical general equilibrium theory. McKenzie offers detailed and rigorous treatment of the classical model, giving step-by-step proofs of the basic theorems. In many cases he elaborates on the individual steps to give a fuller understanding of the underlying principles. His goal is to provide readers with a true mastery of the methodology so that they can derive new results that will further enrich their thinking about general equilibrium theory. Special attention is given to the McKenzie model, in which it is not assumed that the number of firms is given but rather that technologies or activities are available to any agents who can supply the resources they require. The McKenzie model is used to establish the turnpike theorems of optimal and competitive capital accumulation.