Titlebook: Imperfect General Equilibrium; The Economy as an Ev Pier Carlo Nicola Book 1994 Springer-Verlag Berlin Heidelberg 1994 Overlapping Generati

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Firms,is book (about 750 Before Christ) the economic activities then prevailing were agriculture and animal grazing. But this verse summarizes concisely what many people think of firms. Mathematical economics, however, eschews value judgements. This chapter presents an abstract theory of the firm, taking

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Consumers,are of Allais’ work. In truth, the notion of overlapping generations appears much older. The concept comes from the Bible. The book of . (27, 3–7) refers to the age intervals to be respected in fulfilling a vow to God:

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Imperfect General Equilibrium,n its customary meaning of full compatibility (achieved even by means of individual rationings) among the actual decisions taken by the set of all agents. But in accordance with the usual Walrasian paradigm, a current state of the present model must be generally interpreted as a disequilibrium state

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,Micro—Analysis versus Macro—Synthesis,ng from a corresponding micromodel, by means of suitable aggregations. In the words of Malinvaud (1993, p.3), every aggregation signifies an increased degree of abstraction. To aggregate means to incur a significant loss of information (knowing mean value of . quantities does not allow us to know th

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could be resolved if kidneys from genetically engineered pigs offered an alternative with an acceptable clinical outcome. Experimental studies suggest that a genetically engineered pig kidney would function for a prolonged period (months or even years) if transplanted into a human recipient. We sugg

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