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General Equilibrium Theory of Value
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General Equilibrium Theory of Value

Yves Balasko

Abstract

The concept of general equilibrium, one of the central components of economic theory, explains the behavior of supply, demand, and prices by showing that supply and demand exist in balance through pricing mechanisms. The mathematical tools and properties for this theory have developed over time to accommodate and incorporate developments in economic theory, from multiple markets and economic agents to theories of production. This book offers an extensive, up-to-date look at the standard theory of general equilibrium, to which the author has been a major contributor. This book explains how the ... More

Keywords: general equilibrium, economic theory, supply, demand, prices, pricing mechanisms, equilibrium manifold, consumer theory, smooth manifolds, equilibrium solutions

Bibliographic Information

Print publication date: 2011 Print ISBN-13: 9780691146799
Published to Princeton Scholarship Online: October 2017 DOI:10.23943/princeton/9780691146799.001.0001

Authors

Affiliations are at time of print publication.

Yves Balasko, author
University of York