Problems in Equilibrium Theory

Problems in Equilibrium Theory

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In studying General Equilibrium Theory the student must master first the theory and then apply it to solve problems. At the graduate level there is no book devoted exclusively to teaching problem solving. This book teaches for the first time the basic methods of proof and problem solving in General Equilibrium Theory. The problems cover the entire spectrum of difficulty; some are routine, some require a good grasp of the material involved, and some are exceptionally challenging. The book presents complete solutions to two hundred problems. In searching for the basic required techniques, the student will find a wealth of new material incorporated into the solutions. The student is challenged to produce solutions which are different from the ones presented in the book.It is easy to see that the constant function 1, being an order unit, is also an extremely desirable commodity. ... Repeating verbatim the solution of Problem 3.5.4, we see that the utility space of this economy is the set V={(xty)6ill: * + y2alt;l}, which is a closed set; see Figure ... Since w = 1 ;agt; 0, Problem 3.4.3(2) guarantees that in this case the concepts of Wal- rasian equilibrium and quasiequilibrium coincide.

Title:Problems in Equilibrium Theory
Author: Charalambos D. Aliprantis
Publisher:Springer Science & Business Media - 1996-03-18

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