Landmark Papers in General Equilibrium Theory, Social Choice and Welfare Selected by Kenneth J.Arrow and Gerard Debreu (The Foundations of 20th Centur

Landmark Papers in General Equilibrium Theory, Social Choice and Welfare Selected by Kenneth J.Arrow and Gerard Debreu (The Foundations of 20th Centur

By: Gerard Debreu (editor), Kenneth J. Arrow (editor)Hardback

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Kenneth Arrow and Gerard Debreu have throughout their careers continuously produced ideas at the very frontier of economics. Together, they have made unparalleled contributions on the properties of general equilibrium systems in economics, the study of collective choice and welfare economics. The editors have shown their usual rigour in selecting those papers which, in their view, have made the most important contributions in their particular areas of expertise. This volume should be an essential source of reference for students, researchers and practitioners alike.

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Part 1 General equilibrium: the traditional setting of the pricing problem, perfect foresight and stationary conditions, perfect foresight and dynamic conditions, imperfect foresight, and the problem of balancing the budget, Erik Lindahl; uber die produktionsgleichungen der okonomischen wertlehre, Karl Schlesinger; on some systems of equations of mathematical economics, Abraham Wald; a model of general economic equilibrium, J.v. Neumann; equilibrium points in N-person games, John F. Nash; the role of securities in the optimal allocation of risk-bearing, K.J. Arrow; on equilibrium in Graham's model of world trade and other competitive systems, Lionel McKenzie; existence of an equilibrium for a competitive economy, Kenneth J. Arrow and Gerard Debreu; some examples of global instability of the competitive equilibrium, Herbert Scarf; an analysis of markets with a large number of participants, Herbert Scarf; a limit theorem on the core of an economy, Gerard Debreu and Herbert Scarf; markets with a continuum of traders, Robert J. Aumann; on the computation of equilibrium prices, Herbert Scarf; competitive equilibrium under uncertainty, Roy Radner; economies with a finite set of equilibria, Gerard Debreu; market excess demand functions, Hugo Sonnenschein; information and competitive price systems, Sanford J. Grossman and Joseph E. Stiglitz; a characterization of the optimality of equilibrium in incomplete markets, Sanford J. Grossman; on the "law of demand", Werner Hildenbrand; equilibrium in incomplete markets 1 - a basic model of generic existence, Darrell Duffie and Wayne Shafer; equilibrium in incomplete markets 2 - generic existence in stochastic economies, Darrell Duffie and Wayne Shafer; real indeterminacy with financial assets, John Geanakoplos and Andreu Mas-Colell. Part 2 Welfare economics: the general welfare in relation to problems of taxation and of railway and utility rates, Harold Hotelling; a reformulation of certain aspects of welfare economics, Abram Burk; welfare propositions of economics and interpersonal comparisons of utility, Nicholas Kaldor; an extension of the basic theorems of classical welfare economics, Kenneth J. Arrow; two concepts of external economies, Tibor Scitovsky. Part 3 Social choice: the interpretation of voting in the allocation of economic resources, Howard R. Bowen; on the rationale of group decision-making, Duncan Black; necessary and sufficient conditions for rational choice under majority decision, Amartya Sen and Prasanta K. Pattanaik; the optimal production of social justice, S.Ch. Kolm; discussion of Mr. Kolm's paper, M.V. Posner and H. Tulkens; the impossibility of a Paretian liberal, Amartya Sen; impossibility theorems without collective rationality, Douglas H. Blair et al; equity, Arrow's conditions and Rawls' difference principle, Peter J. Hammond; possibility theorems with interpersonally comparable welfare levels, Kevin W.S. Roberts.

Product Details

  • publication date: 21/12/2001
  • ISBN13: 9781840645699
  • Format: Hardback
  • Number Of Pages: 752
  • ID: 9781840645699
  • weight: 1388
  • ISBN10: 1840645695

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