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Competitive Equilibrium

Competitive Equilibrium
Theory and Applications

£40.99

  • Date Published: March 1994
  • availability: Available
  • format: Paperback
  • isbn: 9780521319881

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  • The development of general equilibrium theory represents one of the greatest advances in economic analysis in the latter half of the twentieth century. This book, intended for advanced undergraduates and graduate students, provides a broad introduction to competitive equilibrium analysis with an emphasis on concrete applications. The first three chapters are introductory in nature, paving the way for the more advanced second half of the book. Relative to the competition, it is much more 'user friendly' while offering exceptionally broad coverage of topics. Well-designed and interesting applications help to make potentially abstract material more accessible. The book includes 92 illustrations and nearly 200 exercises.

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    Product details

    • Date Published: March 1994
    • format: Paperback
    • isbn: 9780521319881
    • length: 420 pages
    • dimensions: 244 x 170 x 22 mm
    • weight: 0.67kg
    • contains: 92 line figures 6 tables 200 exercises
    • availability: Available
  • Table of Contents

    List of illustrations
    Preface
    Acknowledgments
    Part I. Exchange:
    1. Mathematical prerequisites
    2. Walrasian equilibrium
    3. Pareto optimality and the core
    4. A numerical example
    5. Commodities and prices
    6. Summary
    Part II. Production:
    7. Geometry of vector spaces
    8. CRS production
    9. Alternative models of production
    10. Public goods and joint supply
    11. Summary
    Part III. Aumann’s Model:
    12. Applying Aumann's model
    13. Dealing with nonconvexity
    14. Measure and integration
    15. Hedonic theory and local public goods
    16. Summary
    Part IV. Topology:
    17. Introduction to topology
    18. Topologies on vector spaces
    19. Summary
    Part V. Best Response:
    20. Preferences
    21. Existence of best response
    22. Continuity of best response
    23. Miscellany
    24. Summary
    Part VI. Clearing Markets:
    25. Homogeneity
    26. Existence of Walrasian equilibrium
    27. Computation of equilibria
    28. The excess demand theorem
    29. Kakutani fixed point theorem
    30. Summary
    Part VII. Walras Meets Nash:
    31. Noncooperative game theory
    32. Walrasian equilibrium
    33. External effects
    34. Nonconvexity
    35. Nonordered preferences
    36. Summary
    Part VIII. What is Competition?:37. The second fundamental theorem
    38. Core equivalence
    39. Infinite dimensional commodity spaces
    40. The large square economy
    41. Summary
    Bibliography
    Index.

  • Author

    Bryan Ellickson, University of California, Los Angeles

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