Static and dynamic market disequilibrium

Juli Radev

Economic Thought journal, 2011, issue 2, 36-63

Abstract: The static and dynamic market disequilibrium are presented as follows: the Edgeworth box is discussed in order to demonstrate the advantage of the role of negotiations on the market to the tatonnament role in the Walrasian static equilibrium model. In this context the equilibrium method devised by Marshall is an acceptable solution of the Edgeworth ambiguity. The idea of the static disbalance of Edgeworth is substantiated. This concept is projected in the dynamic perception of the Walras-X. The comment is summed up.

JEL-codes: D50 D58 (search for similar items in EconPapers)
Date: 2011
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