General Equilibrium Theory – Ross M. Starr – 2nd Edition


General Equilibrium Theory: An Introduction presents the economic theory of price determination and allocation from elementary to advanced levels, suitable for advanced undergraduates and graduate 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 equilibrium with U-shaped curves and non-convex preferences.

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  • Part I. General Equilibrium Theory: Getting Acquainted:
    1. Concept and history of general equilibrium theory
    2. An elementary general equilibrium model - the Robinson Crusoe economy
    3. The Edgeworth box
    4. Integrating production and multiple consumption decisions: a 2 x 2 x 2 model
    5. Existence of general equilibrium in an economy with an excess demand function

    Part II. Mathematics:
    6. Logic and set theory
    7. RN: real N-dimensional Euclidean space
    8. Convex sets, separation theorems, and non-convex sets in RN
    9. The Brouwer fixed point theorem

    Part III. An Economy with Bounded Production Technology, Supply and Demand Functions:
    10. Markets, prices, commodities, and mathematical economic theory
    11. Production with bounded firm technology
    12. Households
    13. A market economy
    14. General equilibrium of the market economy with an excess demand function

    Part IV. An Economy with Unbounded Production Technology, Supply and Demand Functions:
    15. Theory of production: the unbounded technology case
    16. Households: the unbounded technology case
    17. A market economy: the unbounded technology case
    18. General equilibrium of the market economy: the unbounded technology case

    Part V. Welfare Economics and the Scope of Markets:
    19. Pareto efficiency and competitive equilibrium
    20. Time and uncertainty: futures markets

    Part VI. Bargaining and Equilibrium: The Core:
    21. The core of a market economy
    22. Convergence of the core of a large economy

    Part VII. An Economy with Supply and Demand Correspondences:
    23. Mathematics: analysis of point to set mappings
    24. General equilibrium of the market economy with an excess demand correspondence
    25. U-shaped cost curves and concentrated preferences

    Part VIII. Standing on the Shoulders of Giants:
    26. Next steps
    27. Summary and conclusion.
  • Citation
    • Full Title: General Equilibrium Theory
    • Author/s:
    • ISBN-10: 0521826454
    • ISBN-13: 9780511975356
    • Edition: 2nd Edition
    • Publication date: 2012
    • Topic: Business
    • Subtopic: Economy
    • File Type: eBook
    • Idioma: English

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