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TitleEquilibrium and Disequilibrium in Economic Theory [electronic resource] : Proceedings of a Conference Organized by the Institute for Advanced Studies, Vienna, Austria July 3-5, 1974 / edited by Gerhard Schwรถdiauer
ImprintDordrecht : Springer Netherlands, 1978
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Descript 792 p. online resource


This volume is the result of a conference held at the Institute for Advanced Studies, Vienna. There is still a gap reflected both in fundamental methยญ odological differences and in the style of analysis between the Walrasian (and Edgeworthian) tradition of general equilibrium theory and the theoยญ retical and policy problems raised in the framework of Keynesian and post-Keynesian macroeconomics. The conference succeeded in bringing together economic theorists working in fields ranging from abstract probยญ lems of mathematical equilibrium analysis to applied macroeconomic theory, and it is hoped that the present volume will contribute to bridging the above-mentioned hiatus. As organizer of the meeting and editor of its proceedings I want to thank the Institute for Advanced Studies for providing facilities and funds. I am also sincerely grateful to all my colleagues from the Institute for their generous help, in particular to Mrs Monika Herkner without whose assistance and organizational talent the conference would certainly not have been the success it in fact - in the opinion of all participants - turned out to have been. Furthermore, I wish to express my gratitude towards all participants in the meeting and contributors to the volume whose patient support of the whole enterprise proved indispensable. To Mrs Elfriede Auracher I am deeply indebted for her skillful and effective general management of the editorial work and her invaluable assistance in compiling the indexes


1 Equilibrium -- Equilibrium with Respect to a Simple Market -- On the Role of Complete, Transitive Preferences in Equilibrium Theory -- Equilibrium in a Market with Incomplete Preferences where the Number of Consumers May Be Finite -- Continuity in General Nonconvex Economies (with Applications to the Convex Case) -- Are Core Allocations Obtainable as Exchange Equilibria? -- Equivalence of Competitive and Relative-Core Allocations on a Measure Space of Economic Agents -- Non-Stable Cores of Exchange Economies -- Does Perfect Competition in Spatial Markets Maximize Welfare? -- Walrasโ{128}{153} Theory of Capital Formation and the Existence of a Temporary Equilibrium -- 2 Critique of Equilibrium Theory -- Theories of General Economic Equilibrium and Maximum Efficiency -- Towards a Neo-Austrian Theory of Exchange -- Competitive and Controlled Price Economies: the Arrow-Debreu Model Revisited -- 3 Extensions of Equilibrium Theory-Imperfect Competition, Uncertainty, and Money -- Equilibrium and Linear Complementarity โ{128}{148} an Economy with Institutional Constraints on Prices -- Marketing Costs and Imperfect Competition in General Equilibrium -- Oligopoly and Its Macroeconomic Implications -- Risk and Uncertainty. Their Importance for the Homogeneity of Demand and Supply Functions and the Dichotomy between Real and Monetary Economies -- Notes on the Economic Consequences of Uncertain Product Quality -- Corporate Policy, Uncertainty, and the Stock Market -- Efficiency, Inessentiality and the โ{128}{152}Debreu Propertyโ{128}{153} of Prices -- 4 Problems in Dynamics -- An Approach to the Analysis of Dynamic Processes in Economic Systems -- On Adjustment Dynamics-An Exercise in Traverse -- On the Long-Run Behaviour of a Competitive Firm -- Dynamic Models and Economic Growth -- 5 Disequilibrium and Macroeconomic Theory -- The Qualitative Effects of False Trading -- Non-Tรขtonnement and Disequilibrium Adjustments in Macroeconomic Models -- Existence of an Under-Employment Equilibrium -- A Neokeynesian Model of Price and Quantity Determination in Disequilibrium -- The Specification of Disequilibrium in Flow of Funds Models -- Consumption, Income, and Liquidity -- A Model of Dynamic Keynesian Equilibrium -- Many-Good Multiplier Analysis under Traditional, Classical and Neo-Keynesian Conditions -- Stochastic Disequilibrium in a Labor Contracts Economy -- Expectations, the Real Rate of Interest, and Labor Market Behavior in a Macromodel -- Optimal International Adjustment for a Country in a State of Fundamental Dynamic Disequilibrium -- International Trade and Payments when Markets Fail to Clear -- Index of Names -- Index of Subjects

Social sciences Social Sciences Methodology of the Social Sciences


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