Core and Equilibria of a Large Economy. (PSME-5)
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A01=Werner Hildenbrand
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Almost surely
Author_Werner Hildenbrand
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Axiom
Bounded set (topological vector space)
Budget constraint
Budget set
C space
Cartesian product
Category1=Non-Fiction
Category=KCA
Category=KCB
Cauchy sequence
Central limit theorem
Commodity
Compact space
Complete metric space
Continuous function (set theory)
Contract curve
Convergence in measure
Convergence of random variables
Convex preferences
COP=United States
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Dense set
Econometrics
Economic equilibrium
Economics
Economy
eq_bestseller
eq_business-finance-law
eq_isMigrated=2
eq_nobargain
eq_non-fiction
Exchange economy
Exchange rate
Exchange value
Existential quantification
Extended real number line
Family of sets
Fatou's lemma
Fubini's theorem
Hausdorff distance
Income
Infimum and supremum
Joint probability distribution
Language_English
Lebesgue measure
Marginal distribution
Markov chain
Maximal element
Measurable function
Measure (mathematics)
Metric space
Monotone convergence theorem
Monotonic function
Open set
PA=Available
Pareto efficiency
Preference (economics)
Preference relation
Price system
Price_€20 to €50
Probability
Probability measure
Product measure
Product topology
Production set
PS=Active
Quantity
Radon-Nikodym theorem
Sard's theorem
softlaunch
Subsequence
Subset
Supply (economics)
The Product Space
Theorem
Topological space
Topology
Tychonoff's theorem
Upper and lower bounds
Utility
Walras' law
Wealth
Welfare economics
Zorn's lemma
Product details
- ISBN 9780691618784
- Weight: 369g
- Dimensions: 152 x 235mm
- Publication Date: 08 Mar 2015
- Publisher: Princeton University Press
- Publication City/Country: US
- Product Form: Paperback
- Language: English
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Can every allocation in the core of an economy be decentralized by a suitably chosen price system? Werner Hildenbrand shows that the answer is yes if the economy has "many" participating agents and if the influence of every individual agent on collective actions is "negligible." To give a general and precise definition of economics with this property he considers both economies with a continuum of agents, and a sequence of economies with an increasing number of participants. In both cases this leads to a measure theoretic formulation of economic equilibrium analysis. In the first part of the book the relevant mathematics is developed. In the second part the continuity and convexity properties of the total demand of a consumption sector are investigated. An important result is the equivalence between the core and the set of Walras equilibria for an exchange economy with a continuum of agents. The author then deals with limit theorems on the core for purely competitive sequences of exchange economies. In the last chapter the core and the set of Walras equilibria for a coalition production economy and the relation between these two equilibrium concepts are studied.
Originally published in 1974. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
