General Equilibrium Theory: An Introduction

Ross M Starr

ISBN 10: 0521564735 / ISBN 13: 9780521564731

Published by Cambridge University Press, 1997

About this Item

General Equilibrium Theory: An Introduction treats the classic Arrow-Debreu general equilibrium model in a form accessible to graduate students and advanced undergraduates in economics and mathematics. Topics covered include mathematical preliminaries, households and firms, existence of general equilibrium, Pareto efficiency of general equilibrium, the First and Second Fundamental Theorems of Welfare Economics, the core and core convergences, future markets over time and contingent commodity markets under uncertainty. Demand, supply, and excess demand appear first as (point-valued) functions, then optionally as (set-valued) correspondences. The mathematics presented (with elementary proofs of the theorems) includes a real analysis, the Brouwer fixed point theorem, and separating and supporting hyperplane theorems. Optional chapters introduce the existence of equilibrium with set-valued supply and demand, the mathematics of upper and lower hemicontinuous correspondences, and the Kakutani fixed point theorem. The treatment emphasizes clarity and accessibility to the student through use of examples and intuition.

Seller Inventory # CIN0521564735A

Bibliographic Details

• Title: General Equilibrium Theory: An Introduction
• Publisher: Cambridge University Press
• Publication Date: 1997
• Language: English
• ISBN 10: 0521564735
• ISBN 13: 9780521564731
• Binding: Paperback
• Condition: Fair

About this title

Synopsis

General Equilibrium Theory: An Introduction, presents one of the great achievements of modern economic analysis (recognized by two Nobel Prizes). General equilibrium analysis studies an economy as a whole, recognizing many interacting markets where prices in one market can affect supply and demand in another. The book is suitable for graduate students and advanced undergraduates in economics and mathematics. It starts with elementary models, presents mathematical preparation and more sophisticated treatments. The treatment emphasizes clarity and accessibility through use of examples and intuition.

About the Author

Ross M. Starr is Professor of Economics at the University of California, San Diego, where he has taught since 1980. He has also served on the faculties of Yale University, Connecticut, the London School of Economics and Political Science and the University of California, Davis, and he held a Guggenheim Fellowship at the University of California, Berkeley. Professor Starr's research focuses on general equilibrium theory, mathematical economics and monetary theory. He is the editor of General Equilibrium Models of Monetary Economies (1989) and coeditor of the three-volume Essays in Honor of Kenneth Arrow (Cambridge, 1986). His articles have appeared in journals such as Econometrica, Economic Theory, the Journal of Economic Theory, the Journal of Money, Credit, and Banking, the Quarterly Journal of Economics and the Review of Economic Studies. Cambridge University Press released the first edition of General Equilibrium Theory: An Introduction in 1997.