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General Economic Equilibrium: Purpose, Analytic Techniques, Collective Choice
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A survey of the development of the theory of general equilibrium in a competitive economy and its role in the allocation of resources can be found in this article, with an evaluation of the needs for further development.Abstract:
: The lecture is designed to survey modern development of the theory of general equilibrium in a competitive economy and its role in the allocation of resources A survey is given of the state of the theory as developed by JR Hicks, PA Samuelson, and their predecessors as of about 1945, followed by an evaluation of the needs for further development The differing general equilibrium tradition in the German-language literature is summarizedread more
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