The Current Non-Status of General Equilibrium Theory

This paper argues that the abandonment of general equilibrium theory by microeconomists was a mistake. It provides counter arguments to two of the reasons for that abandonment — lack of both generality and consistency with methodological individualism in uniqueness and stability analysis of equilibria — and urges microeconomists to refocus some of their attention on it.

MoreLess

Year of publication:	2004-06
Authors:	Katzner, Donald W.
Institutions:	Department of Economics, University of Massachusetts-Amherst
Subject:	general equilibrium theory \| price determination \| methodological individualism

More details

Extent:	application/pdf
Series:	UMASS Amherst Economics Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Classification:	D50 - General Equilibrium and Disequilibrium. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005170442