This book studies a large economy. It deals with a static microeconomic model of an exchange market with pure competition. Instead of the sigma-additive theory, the finitely additive theory, the general Jordan content and the general Riemann integration are used respectively. By a specialized probability model, the author obtains a precise interpretation strictly based on microeconomic methods of measurement. In particular, the meaning of an agent and of a coalition is explained and the Core-Walras equivalence is deduced. The author elaborates an elementary representation by broken continuous functions and the classical Riemann integral. A conjecture concerning the reduction of the dynamical case onto generalized differential equations is added.
Contents: Introduction.- The Deterministic Grounding of the Model: The Observation of a Set of Agents. The Observation of a Market.- The Replica Model: The Deterministic Replica Model. The Probabilistic Replica Model.- Core and Walras Allocations: The Definition of the Core. Walras Allocations. Core versus Walras Allocations.- Appendix.- References.- Subject Index.
Series: Lecture Notes in Economic and Mathematical Systems
Number Of Pages: 139
Published: June 1988
Publisher: Springer-Verlag Berlin and Heidelberg Gmbh & Co. Kg
Country of Publication: DE
Dimensions (cm): 24.41 x 16.99
Weight (kg): 0.26