Titlebook: General Equilibrium; John Eatwell,Murray Milgate,Peter Newman Book 1989 Palgrave Macmillan, a division of Macmillan Publishers Limited 198

延期

Klaus Bart?lke,Ekkehard Kapplers — that a competitive price system produces desirable results and that government interference will generally lead to an inefficient allocation of resources — rests on the intimate connections between competitive equilibrium and Pareto efficiency.

GRE

CONE

aggravate

https://doi.org/10.1007/978-3-319-76433-7 a commodity without using any other inputs or producing any other (possibly noxious) outputs, its price in competitive equilibrium cannot be negative. Therefore competitive equilibrium analysis can be confined to the case of non-negative prices if every commodity is either harmless to someone or freely disposable.

dendrites

完全

famine

Comparative Statics,he transitional process involved in the adjustment from one equilibrium position to another. The use of comparative statics, of comparing one equilibrium with another, is as old as economics itself. It was, for example, the method used by Hume (1752) in his analysis of an increase in the stock of gold on prices in an economy.

JOG

迫擊炮

Adjustment Processes and Stability,s — that a competitive price system produces desirable results and that government interference will generally lead to an inefficient allocation of resources — rests on the intimate connections between competitive equilibrium and Pareto efficiency.

MOT

Disequilibrium Analysis,i.e. the equality of supply and demand on markets. This is the meaning we shall retain in this entry, and therefore the disequilibrium analysis we shall be concerned with here is the study of nonclearing markets, also called non-Walrasian analysis by reference to the most elaborate model of market clearing, the Walrasian model.