Temporary Competitive Equilibrium Under Uncertainty

Dieter Sondermann
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Dieter Sondermann: C.O.R.E

Chapter 13 in Allocation under Uncertainty: Equilibrium and Optimality, 1974, pp 229-253 from Palgrave Macmillan

Abstract: Abstract Short-run equilibrium analysis is concerned ‘with an economy where several successive markets are held, to study the conditions which determine the equilibrium of each market and to find how these equilibria are linked together’ (Grandmont [11]). This analysis has been advanced, in particular, by Hicks in his book Value and Capital [13] under the name, temporary equilibrium within a ‘week’. In this paper both terms are used synonymously.

Keywords: Capital Market; Decision Model; Economic Agent; Price System; Price Vector (search for similar items in EconPapers)
Date: 1974
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DOI: 10.1007/978-1-349-01989-2_13

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