Classical General Equilibrium Theory

Although general equilibrium theory originated in the late nineteenth century, modern elaboration and development of the theory...
€93,49 EUR
€93,49 EUR
SKU: 9780262633307
Product Type: Books
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Author: Lionel W. McKenzie
Format: Paperback
Language: English
Subtotal: €93,49
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Classical General Equilibrium Theory by McKenzie, Lionel W.

Classical General Equilibrium Theory

€93,49

Classical General Equilibrium Theory

€93,49
Author: Lionel W. McKenzie
Format: Paperback
Language: English
Although general equilibrium theory originated in the late nineteenth century, modern elaboration and development of the theory began only in the 1930s and 1940s. This book focuses on the version of the theory developed in the second half of the twentieth century, referred to by Lionel McKenzie as the classical general equilibrium theory. McKenzie offers detailed and rigorous treatment of the classical model, giving step-by-step proofs of the basic theorems. In many cases he elaborates on the individual steps to give a fuller understanding of the underlying principles. His goal is to provide readers with a true mastery of the methodology so that they can derive new results that will further enrich their thinking about general equilibrium theory. Special attention is given to the McKenzie model, in which it is not assumed that the number of firms is given but rather that technologies or activities are available to any agents who can supply the resources they require. The McKenzie model is used to establish the turnpike theorems of optimal and competitive capital accumulation.

Author: Lionel W. McKenzie
Publisher: MIT Press
Published: 08/12/2005
Pages: 334
Binding Type: Paperback
Weight: 0.95lbs
Size: 8.82h x 6.02w x 0.61d
ISBN: 9780262633307
Audience: Young Adult

About the Author
McKenzie, Lionel W.: - The late Lionel W. McKenzie was Wilson Professor Emeritus of Economics at the University of Rochester.

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