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General Equilibrium, Properties, Hypothesis, Contributions and books,…
General Equilibrium
Hicks
1939
Allais
1943
Samuelson
1947
Foundations of Economic Analysis
Value and Capital
Gerard Debreu
Robustness of competitive equilibrium
Contribute the existence
of
Equilibrium
Specificity of excess of demands
Define
Economic Agent
Francis Edgeworth
1845
"A market would tend to be competitive if the number of participants would increase indefinitely"
Vilfredo Pareto
1909
Pareto efficient
says
"A competitive equilibrium is efficient"
says that
Markets are all large
then
CGE provide a suffieciently good
generalized by
Debreu and Scarf
in
1963
at
"A limit theorem on the core of an economy"
supported by
Edgeworth
in
1881
saying
"A market would tend to be competitive if the
number of participants would increase indefinitely"
aggregate demand functions
Satisfy
Walras Law
in prices terms
are
continuous
Homogeneus
'n' goods resulted
in
'n' equations
Markets for goods and factors
are assumed
Perfectly competitive
then are define
Equations
such that
are established by
System of demand functions for goods
with income r
1 more item...
Average cost shares
Relative changes
Notation
Properties
Hypothesis
Contributions and books
Developers
Model