General Equilibrium Theory: An Introduction

Front Cover
Cambridge University Press, 2011 M04 25
General Equilibrium Theory: An Introduction presents the mathematical economic theory of price determination and resource allocation from elementary to advanced levels, suitable for advanced undergraduates and graduate students of economics. This Arrow–Debreu model (known for two of its most prominent founders, both Nobel Laureates) is the basis of modern price theory and of a wide range of applications. The new edition updates discussion throughout and expands the number and variety of exercises. It offers a revised and extended treatment of core convergence, including the case of non-convex preferences, and introduces the investigation of approximate equilibrium with U-shaped curves and non-convex preferences.
 

Selected pages

Contents

Getting acquainted
1
B Mathematics
67
C An economy with bounded production technology
109
D An economy with unbounded production technology
161
E Welfare economics and the scope of markets
203
The core
249
G An economy with supply and demand correspondences
275
H Standing on the shoulders of giants
323
Bibliography
335
Index
341
Copyright

Other editions - View all

General Equilibrium Theory: An Introduction
Ross M. Starr
No preview available - 2011
General Equilibrium Theory: An Introduction
Ross M. Starr
No preview available - 2011

Common terms and phrases

artificially bounded Assume assumptions attainable Bi(p Brouwer Fixed-Point Theorem budget constraint budget set C.IV C.VI(SC C.VII Chapter characterized coalition compact competitive equilibrium consumption plan consumption set contingent commodity continuous function convex hull convex set convex valued core allocation correspondence Ď¹ Ď¹(p Debreu defined definition demand behavior demonstrate denoted Di(p Edgeworth box efficient allocation endowment equilibrium allocation equilibrium price vector excess demand function finite firms and households fixed point fulfilled Fundamental Theorem futures markets Hence income indifference curves inputs Kakutani Fixed-Point Theorem large economy Lemma lower hemicontinuous market clearing mathematical maximization nonconvex nonempty nonnegative output oysters P.VI Pareto efficient price vector production plans production technology profits proof pure exchange economy represents result Š³ sequence Shapley-Folkman simplex subset technology set Theorem of Welfare unbounded upper hemicontinuous utility function Walras's Law Welfare Economics

About the author (2011)

Ross M. Starr is Professor of Economics at the University of California, San Diego, where he has taught since 1980. He has also served on the faculties of Yale University, Connecticut, the London School of Economics and Political Science and the University of California, Davis, and he held a Guggenheim Fellowship at the University of California, Berkeley. Professor Starr's research focuses on general equilibrium theory, mathematical economics and monetary theory. He is the editor of General Equilibrium Models of Monetary Economies (1989) and coeditor of the three-volume Essays in Honor of Kenneth Arrow (Cambridge, 1986). His articles have appeared in journals such as Econometrica, Economic Theory, the Journal of Economic Theory, the Journal of Money, Credit, and Banking, the Quarterly Journal of Economics and the Review of Economic Studies. Cambridge University Press released the first edition of General Equilibrium Theory: An Introduction in 1997.

Bibliographic information

TitleGeneral Equilibrium Theory: An Introduction
AuthorRoss M. Starr
Edition2, revised
PublisherCambridge University Press, 2011
ISBN1139496735, 9781139496735
  
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