Arrow-Debreu Model versus Kornai-critique

Jozsef Moczar

Athens Journal of Business & Economics, 2017, vol. 3, issue 2, 143-170

Abstract: This paper presents a follow-up study of Markovits et al.’s (2014) comparison of large samples of Greek employees before and at the onset of the economic crisis. Now at the crisis’ peak, we again sampled data from 450 employees about their job satisfaction, organizational commitment, regulatory focus, and burnout. Overall, compared to the two samples before, employees’ job attitudes further decrease with lower normative and higher continuance commitment, lower (extrinsic and intrinsic) job satisfaction and both lower promotion and (somewhat surprisingly) even lower prevention orientation. Expanding previous studies, results show that satisfaction and commitment are also related to burnout and that those participants who are currently employed but had experienced personal unemployment during the crisis showed more negative attitudes and higher burnout.Keywords: SME, micro firms, entrepreneurship, growth, creativity & business skills

Keywords: general equilibrium theory; Arrow-Debreu model; Anti-Equilibrium; Kornai vs. Hahn debate; Walrasian equilibrium; Kornai’s new equilibrium states; ex post and ex ante models; DRSE model; ergodic dynamic system (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:ate:journl:ajbev3i2-4

DOI: 10.30958/ajbe.3.2.4

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