On Hicks’s Concept of Perfect Stability in Multiple Exchange

Robert E. Kuenne
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Robert E. Kuenne: Princeton University

Chapter 3 in General Equilibrium Economics, 1992, pp 69-76 from Palgrave Macmillan

Abstract: Abstract The concept of static stability and its conditions, as defined by Professor Hicks in Value and Capital,1 have received a great deal of attention in the literature.2 Most of the discussion has been conducted in terms of the validity of a purely static stability analysis and its relationship to dynamic stability properties. This paper poses the question whether there is not a fundamental ambiguity in the definition of Hicksian perfect stability for a given market equilibrium which makes the concept treacherous analytically.

Keywords: Equilibrium Point; General Equilibrium; Market Equilibrium; Excess Demand; Good Market (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12752-8_4

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DOI: 10.1007/978-1-349-12752-8_4

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