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Competitive Equilibrium : Theory and Applications - Bryan Ellickson

Competitive Equilibrium

Theory and Applications

Paperback

Published: 9th May 1994
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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 coverage is exceptionally broad, including existence of equilibrium, models with a continuum of players, economies with individual commodities, computation of equilibrium, and infinite dimensional space. Well-designed and interesting applications help to make potentially abstract material more accessible.

List of illustrations
Preface
Acknowledgments
Exchange
Mathematical prerequisites
Walrasian equilibrium
Pareto optimality and the core
A numerical example
Commodities and prices
Summary
Production
Geometry of vector spaces
CRS production
Alternative models of production
Public goods and joint supply
Summary
Aumann's Model
Applying Aumann's model
Dealing with nonconvexity
Measure and integration
Hedonic theory and local public goods
Summary
Topology
Introduction to topology
Topologies on vector spaces
Summary
Best Response
Preferences
Existence of best response
Continuity of best response
Miscellany
Summary
Clearing Markets
Homogeneity
Existence of Walrasian equilibrium
Computation of equilibria
The excess demand theorem
Kakutani fixed point theorem
Summary
Walras Meets Nash
Noncooperative game theory
Walrasian equilibrium
External effects
Nonconvexity
Nonordered preferences
Summary
What is Competition?
The second fundamental theorem
Core equivalence
Infinite dimensional commodity spaces
The large square economy
Summary
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521319881
ISBN-10: 0521319889
Audience: Tertiary; University or College
Format: Paperback
Language: English
Number Of Pages: 420
Published: 9th May 1994
Publisher: Cambridge University Press
Country of Publication: GB
Dimensions (cm): 25.4 x 17.8  x 2.2
Weight (kg): 0.67